ASX junior producers
Armour Energy (ASX:AJQ)
With strong acreage positions in South Australia’s Cooper Basin, Victoria’s Otway Basin, the McArthur Basin in the Northern Territory as well as production assets in Queensland’s Surat Basin, Armour Energy is well positioned to help address the expected gas shortage on Australia’s East Coast.
Its Surat Basin assets have already generated 3.5 terajoules of gas and 90.5 barrels of oil and condensate per day, delivering sales revenue of $3.4m in the second quarter of the 2023 financial year.
While Armour is currently developing its Surat Basin subsurface work for 2023, it recently signed a heads of agreement to supply at least 7 petajoules of gas from its Glyde discovery in the McArthur Basin to Australian Natural Diamonds’ Merlin Diamond project over a 14-year period.
The company is also progressing planning of its Enterprise North-1 well in the Otway Basin and its 2023 work program for its Cooper Basin assets – including the viability of the Permian deep coal play.
