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10.0¢ armour energy limited

Ann: Work Program Update - Warroon 1 Well Re-stimulation, page-10

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136 Posts.

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23/09/21

10:00

Post #: 56286233
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Originally posted by Plext ↑

Okay here we go. For $700k ( New partners costs and no costs to AJQ) production will flow again. Why has this been dragged out in the courts for nearly a year when we could have paid another mob $700k and be in production already. Now AJQ will receive 50% of revenue for the next 6 years. How much yearly rev were they expecting from Warroon #1 ?

So if this fails- AJQ haven't lost anything, however can receive the drill evidence as to why it failed in the first place during re-entry.... Void of the rev. numbers I'm glad to see the project moving fwd.

"On 8 Dec 2020 sand and fluids were cleaned out on Warroon #1 with a coiled tubing unit and the well is currently on test recovering frac fluid. The stimulated Rewan interval flared rates of up to 700 mcf/d on 9 Dec 2020. Flow rates are expected to increase through clean-up operations and once the evaluation phase is completed the well will be connected to sales."

Yes I corrected the spelling of "evalution" in the above

https://wcsecure.weblink.com.au/pdf/AJQ/02320655.pdf

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I think it is a smart move… impressed with our CEO

AJQ Price at posting: 3.3¢ Sentiment: Buy Disclosure: Held
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