"During the previous quarter and this quarter, Armour has...

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boleslawiec

128 Posts.

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29/07/21

09:38

Post #: 54858276
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Originally posted by orion123: ↑

AJQ has drilled 5 discovery wells which are considered commercial (by myself anyway) over a length of 80 kms and width of 20 kms in the NT. This is a huge area of success. Pipelines are available for production and a worldwide gas shortage is predicted to last for years. If Australias' temperatures this winter are any indication the northern hemisphere winter will be severe as our tiny planets' sun moves into a quiet period. So much for global warming but very good for gas producers such as us. Many seem to forget that we sell some 20 to 25 million $ of product (perhaps more) currently annually and will be virtually debt free (no interest payments) and as well not have the huge expense associated with administering the NT properties. Also I think most have forgotten the Victorian and African assets. As well we'll retain 1 third of the NT assets so I'm a very happy traveler but annoyed that my present cash position doesn't allow me to accumulated further at these give away prices. I'll get off my soap box now and happy investment to all.

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"During the previous quarter and this quarter, Armour has carried out plant shutdowns for maintenance and
refurbishment activities on the Kincora Gas Plant in order to provide improved plant performance and
reliability as the Company continues to work toward its target of 20TJ/day"

So orion, this is from quarterly report for the period ending 30 March 2019. In the report AJQ says it should have production over 30 TJ/Day by year 2021.
If there were many investors like me investing on the report information, they/me are down 80%+ on the investment.

At least you would expected the management decency to explain / apologise for misleading investors.

AJQ Price at posting: 3.1¢ Sentiment: None Disclosure: Held
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0 Great analysis

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