Ann: Armour Awarded Further Acreage at Kincora Project, Qld, page-3

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12/09/18

14:11

Post #: 35549732
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Originally posted by rmkpro ↑

Nice little tail end to that announcement.

Armour has successfully drilled the Myall Creek 4A well, which is currently shut‐in on build‐up in
preparation for the installation of the 2‐3/8’’ production tubing. Armour is awaiting the release of the
workover rig from another operator, and once the tubing is installed, it is antipated that the well will be
on‐line and in production later this month. The results of Myall Creek 4A well are still being received, and
evaluation of the data is being progressed and will assist in the design of future drilling and completions
operations in this field.
Armour is also enjoying significant liquids production of light oil or condensate and LPG in the restarted
wells on the Kincora Project, and this is an important contributor to growing positive cash flows.

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Yes,

Doesn't seem to be a duster at all by the sounds of that. It was a tough decision for NM to make regarding the recent Cap raise, but what's done is done and SP hopefully will recover with more value added as drilling occurs. Seems to me that AJQ is somewhat blessed with news since AEP "handed back shares", the GAP grant and the two occasions of exploration grants close to Kincora. All seems to be falling into place, now just waiting for further Quarterlies as production improves. GLTA.

AJQ Price at posting: 10.0¢ Sentiment: Hold Disclosure: Held
9 Upvote

0 Great analysis

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