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10.0¢ armour energy limited

Ann: Surat Work Program Update, page-3

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nellyajq

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10/12/20

14:02

Post #: 49485060
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Originally posted by frmen1: ↑

Good initial early rate of 700 mscf from Waroon, which was a double stimulation, and should increase from there as more fluid is retrieved. And good news that the Rewan extends through that region too.
I'm a little puzzled, although not in a negative way, as to the timeline, then the amended timeline, then back to the original.
We were informed on 25/11 that due to Covid logistics issues out of SA, our sequence had changed, with Horseshoe 4 being completed first, then HS 2, and finally Warroon 1. This had already changed from Warroon being completed first then to HS.
Now it's back to the original sequence. And the timeline is looking to at least encompass all of Dec now.
As I said, nothing particularly negative, just puzzling.
I guess they have to be fluid with their management as logistics allow. Looking forward to firm flow rates in the near future, as well as an increased 2P reserves update thanks to the Rewan news.

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"Following delays due to the recently enacted COVID-19 quarantine measures
restricting personnel movements from South Australia, Armour has
reestablished momentum on its 2020 Work Program and intends to complete
all activities in December"

AJQ Price at posting: 6.0¢ Sentiment: Buy Disclosure: Held
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