AJQ 0.00% 10.0¢ armour energy limited

Overall a pretty encouraging update. A couple of items caught my...

  1. 2,002 Posts.
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    Overall a pretty encouraging update.
    A couple of items caught my eye:
    * Previous announcements led me to believe that we would have flow rates from MCN1 and HS4, both of which seem to be set back slightly. I thought the workover rig would have been finished with MCN1 by now, anyway no big deal.
    * MC5A, the announcement of 25/11 stated the stimulation had been completed on 24/11, they were anticipating 2 weeks of flowback prior to results. Now we're being told flowback is commencing the week starting 16/12, taking approx 2 weeks. That doesn't make sense to me, however it's still going ahead and probably this year, so no big issue.
    * Still no mention of the upcoming Entitlement Offer for retail holders, which, same as most here believe, are probably holding our SP static.
    * The upcoming 2020 work program sounds very interesting withe 5 gas and 4 oil wells being planned.
    * Great to see some of the older wells being re-worked and coming back on-line. Every bit helps increase our total production and cash flows.
 
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