Armour Energy to Analyse Results from MacArthur Basin Well

Armour Energy is starting a resource analysis of its successful Glyde-1 lateral well in the McArthur basin, Northern Territory, before it progresses to an independent resource report, Proactive Investors has said.

Glyde-1 had flowed 3.33 million cubic feet of gas per day during flow testing from the prospective intersection of the middle‐Proterozoic aged, Barney Creek Shale and the Coxco Dolomite Formations.

The well is currently suspended awaiting future completion and production testing.

Armour will progress further analysis of the overall Glyde Sub Basin area to gain further understanding of the extent of the gas bearing formation and structure encountered in the Glyde well and also the potential repetition of similar wells.