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AJQ, ARMOUR ENERGY LIMITED
nipper
post Posted: Mar 18 2021, 08:28 AM
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In Reply To: nipper's post @ Mar 17 2021, 08:39 PM

Post the proposed demerger, Armour will be left with a considerable production infrastructure, established and growing production, a gas storage facility and considerable exploration ground all within immediate proximity to the proposed Australia Gas Hub at Wallumbilla. Armour Energy owns and operates the Kincora Gas Plant (KGP) along with a number of producing Gas fields over 60klms of the Roma Shelf associated pipelines and compressors along with the Newstead Gas Facility that can hold up to 10Pj of Gas.

The fields produce wet gas which is stripped of condensate at the plant and subsequently sold into the east coast gas market via Armour’s pipeline to the Wallumbilla Hub. At present the KGP can produce up to 12Tj per day but is targeting much higher volumes.
The key asset of Armour is the Kincora production facility that currently produces a modest cash profit at project level based on current production of 6 -8Tj per day. The economics of Kincora improve materially with the potential removal of having to service the A$43m debt at 8.75%.

Armour has considerable and highly prospective exploration ground in direct proximity to the Kincora production facility. Armour has in place the established infrastructure to materially increase production volumes from this exploration ground to an intended 14Tj per day. At 14 Tj without having to service the $43m debt, would see Armour generating material free cash flow and enable the company to be a self-funded developer/ explorer with an enviable asset base.

Armour currently has a tenement package of 3000sq klm and has several high profile targets. Armour sold its 10% interest in Petroleum lease 1084 (PL 1084) known as the Murrungama block to APLNG last year for $4m. The Murrungama block covered some 18sq km.


QUOTE
Shareholders will receive shares in the new listed company that will trade at a discount to its listed peers. Shareholders will also maintain their current shareholding in Armour but will see the company have minimal debt , which they are currently servicing at circa 8.75% of debt of $43m. Whilst the company has been able to pay down this debt from an initial $60m to now sit at $43m , the near elimination of this debt will see Armour emerge as profitable producer at greater than 6tj per day with a well-articulated strategy to achieve 12-14 tj of production per day which would see Armour highly profitable at a corporate level able to self-fund its exploration assets and also have an unencumbered gas storage facility with a high strategic value and in direct proximity to what the federal government has labelled “the Australian gas hub” at Wallumbilla.
- wrote one broker




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Mar 17 2021, 08:39 PM
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Proposed Demerger of Northern Basin Oil & Gas Business


HIGHLIGHTS:

Unlocking unrecognized value for shareholders through proposed demerger and separate ASX listing of Armour's Northern Basin Oil & Gas Business.
• McArthur Oil & Gas Ltd ( a new company ) is proposed to be created to hold the Northern Basin Oil & Gas Business and demerged from Armour through an in-specie share distribution to existing shareholders.
• IPO and capital raise of $60 to $65 million for McArthur Oil & Gas proposed to fund acquisition of Northern Basin Oil & Gas assets from Armour and to fund forward exploration.
• Proposed total consideration of $40 million cash plus a minimum of 33.3% retained interest by Armour shareholders in McArthur Oil & Gas. The consideration received by Armour will be used to retire its outstanding debt.
• As part of the IPO and, subject to Armour shareholder approval, Armour intends to distribute on a tax-effective in specie basis shares in McArthur Oil & Gas of a minimum of 33.3% by a return of capital to existing shareholders of Armour and will provide shareholders with a direct interest in two separately listed companies.
• Armour shareholders expected to also be provided a priority entitlement to participate in the IPO of McArthur Oil & Gas.
• McArthur Oil & Gas proposed to be the dominant exploration license holder in McArthur Basin with 13 permits covering ~89,000 km2 and major holding in South Nicholson Basin with 1 permit covering ~7,900 km2.
• McArthur Basin has proven conventional and unconventional shale gas resources with a focus on near term production development opportunities from existing conventional discoveries.
• Independently certified Prospective Resources of 34 TCF (Best Estimate) of conventional and unconventional gas and 1.2 billion barrels of oil and hydrocarbon liquids (Best Estimate). • 193 conventional leads and prospects identified in Coxco and Reward Dolomites and Tawallah Group Sandstones with 4.3 TCF Prospective Resources (Best Estimate).



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
lgrif
post Posted: Apr 17 2018, 04:49 PM
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In Reply To: blacksheep's post @ Apr 17 2018, 03:51 PM

Thanks for the quick info B/sheep. I would have expected CTP to get a nudge up also, even though much of it's NT fields are conventional. Mayby the news hasn't circulated yet ?

 
blacksheep
post Posted: Apr 17 2018, 03:51 PM
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In Reply To: lgrif's post @ Feb 10 2017, 04:28 PM

Seems to be some interest today - SP up 8.89% @ 9.8c. Could be due to the NT Government lifting the Fracking moratorium? AJQ have some acreage put on hold.

QUOTE
In September 2016, the Northern Territory Government announced a moratorium on hydraulic fracturing of onshore unconventional reservoirs including the use of hydraulic fracturing for exploration, extraction and production, including Diagnostic Fracture Injection Testing. This moratorium places a halt on any territory-wide activity for Amour until the moratorium is lifted.


Fracking set to resume in the Northern Territory as moratorium lifted
http://www.abc.net.au/news/2018-04-17/frac...-lifted/9666022
Attached File(s)
Attached File  ajq.png ( 124.07K ) Number of downloads: 7

 




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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

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lgrif
post Posted: Feb 10 2017, 04:28 PM
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Been no interest in AJQ for a long time until now. Seems to have broken downtrend however; resistance appears to be ~ 9.5-10c; 12c; 16c; 18c.
Just my thoughts, DYOR.

 
persistent/2
post Posted: Aug 31 2015, 09:14 AM
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AJQ Armour Energy

TRADING HALT

It seems Chinese suitor (AFReview today)

 


bam_bamm
post Posted: Mar 12 2014, 11:40 AM
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Just noticed the stack of former Arrow/Bow management involved with Armour Energy.

Nicholas Mather
Robert de Weijer
Stephen Bizzell

Bell Potter has recently initiated research coverage
Morgans has issued a new research report.

Can't say I am very familiar with the basins that Armour has interests in. Anyone else having a look at Armour?



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crooky
post Posted: Oct 30 2012, 09:24 PM
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In Reply To: Nick_crx's post @ Aug 13 2012, 10:35 AM

Conventional Gas Resource in the Glyde Sub





Basin of EP 171, Northern Territory,



increases from 10.2BCF to 130.7BCF



 
Nick_crx
post Posted: Aug 13 2012, 10:35 AM
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In Reply To: crooky's post @ Apr 13 2012, 11:02 PM

some commentators think this is the next BRU.



Results on friday are a good start.



one to keep an eye on, cashed up and lots of targets.


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crooky
post Posted: Apr 13 2012, 11:02 PM
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In Reply To: crooky's post @ Apr 13 2012, 10:54 PM

wrong site /
wouldn't allow me to start new topic . / new company IPO /listing the other night /day
ened up here,

 
 


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