➢ Two new development wells planned for production in Q4 2019
The Directors of Brisbane based oil and gas explorer and producer Armour Energy Limited (“Armour”, or “the Company”, ASX: AJQ) are pleased to advise that the Company has entered into a contract for the drilling of two development wells for the Company’s 100% owned Kincora Gas Project on the Roma Shelf, south of Roma, Queensland.
This work program is a continuation of the 2018-2019 Phase 3 growth strategy which includes drilling of new wells and workover and stimulation of existing wells. These activities, together with any necessary further work on the Kincora Gas Plant, will assist Armour in progressing to its targeted 20TJ/day gas sales.
In preparation for drill rig mobilisation, the Company has completed the construction of the drill sites which are located in the Myall Creek and Horseshoe Fields, in PL511 and PL227 respectively. The wells have been designed to a depth of approximately 2,100-meters (measured depth) and will target liquid-rich, overpressured Permian and Triassic conventional and tight gas sandstones. The wells are planned to be drilled consecutively with the first well planned to spud in September 2019.
Source: Company Press Release