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10.0¢ armour energy limited

Certainly sounds as if it is worth doing the feasibility study...

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rmkpro

226 Posts.

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23/11/17

10:55

Post #: 29048876
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Originally posted by frmen1 ↑

You're right rmkpro, they're certainly eye-watering figures. Armour stated they were going to wait until gas sales were stabilized then would investigate further options re the Newstead gas storage. This included looking at a further 19 PJ capacity via the use of depleted wells and augmenting the flow rates. Theoretically, a further 19 PJ on top of 7.5 would have a storage system larger than Iona, however that would necessitate a larger pipeline to Wallumbilla as well. That would be 54 odd km's of big expense. But never say something won't happen with Armour, they're attracting investors and management staff for a reason and I'm always impressed at how quiet they can keep their plans. Good retest of lower price the last few days.

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Certainly sounds as if it is worth doing the feasibility study on that Wallumbilla line based on this info. With good storage capacity at the doorstep of the northern spot market it would appear we have something quite special there.

AJQ Price at posting: 10.0¢ Sentiment: Buy Disclosure: Held
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