AJQ 0.00% 10.0¢ armour energy limited

Ann: Entitlement Offer - Extension to Closing Date, page-19

  1. 1,993 Posts.
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    That's a pretty interesting link site Orion; I'm trying my best to understand it- wish I'd paid more attention back in school!
    I refuse to accept (at this point) that the 4A well is a duster. In the last update, Armour state that they've encountered problems with gas flow stability and slugging, but they'd worked out that they might be able to overcome the issues with further perforations, and that once this was done, the production tubing "will enhance lifting the fluids". That doesn't sound as if it's a dud, just another problem that needs to be overcome. "The tubing will be run by a workover rig, which will be mobilised as soon as possible after the perforations have been completed". This was not a problem they had prepped for; they can do the extra perforations, probably have done already, but they need the workover rig back again to complete it. That may be taking time to arrange. They are stating that they are still going ahead with the well connection to the Myall Creek compressor station. They are stating that the well will be connected to the Kincora Gas Plant.
    There's no maybe in that last announcement. FWIW, I've taken up 50% of my entitlement; each to their own. I refuse to lose faith in this company. There have been some brilliant posts lately, it's great to have some debate.
 
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