Armour completes airborne survey in Northern Territory
Sydney-listed Armour Energy July 28 said Pinemont Technologies Australia had completed the acquisition of airborne geophysical data over a portion of six Northern Territory permits covering an area of approximately 20,000 km².
Armour undertook the airborne survey on behalf of McArthur Oil & Gas in advance of the proposed demerger and IPO of McArthur announced earlier this year. Armour is planning to demerge its Northern basin oil and gas business into a newly formed company – McArthur Oil & Gas – to be separately listed in Sydney.
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“The survey was aimed at detecting anomalies in areas of upward fluid flow of migrating hydrocarbons above fluid pathways and/or hydrocarbon accumulations,” Armour said. “This will provide information over existing prospects and leads, and a regional context upon which to plan future follow-up exploration work.”
According to the company, the six permits cover the Batten Fault Zone and several oil and gas plays, including the proven Coxco Dolomite Play (Glyde gas discovery), which encompass 193 conventional prospects and leads within McArthur and Tawallah Group reservoirs identified by previous exploration work.