AJQ 0.00% 10.0¢ armour energy limited

Ann: Reserves Upgrade - Kincora Gas Project, page-12

  1. 1,998 Posts.
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    Thanks. When we purchased the Roma Shelf assets, there were 76 wells; 38 of those were still viable, and the initial plans included the workover, re-perforation, and stimulation amongst those wells, as well as the digging of new wells. The existing wells are where the likely savings will be. Go and re-read the announcement of 2/9/15. Armour strongly believes that there is significant gas still down those wells, including at depths that haven't been tested. Have a read of the potential of Ungabilla 1, very interesting.
    https://www.rigzone.com/news/oil_gas/a/23093/ausam_energy_finds_gas_with_ungabilla1_well/ among others. Ausam was definitely on to something before they ran into financial troubles. Just for now we wait.
 
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