Sydney-listed Armour Energy has lodged applications for retention licences (RL) in the Northern Territory over portions of its 100% owned exploration permits (EP) 171 and EP190 in McArthur basin, it said on February 25.   

The company said it has been targeting both the conventional and unconventional gas potential in these tenements and through 2012 and 2015 has made multiple conventional gas field discoveries in the Coxco Dolomite conventional reservoir with the Glyde 1 ST1 and Cow Lagoon 1.  
 
“As a result of successfully flowing hydrocarbons from Glyde 1 ST1 and Cow Lagoon 1, the grant of RLs will allow the company to progress the discoveries within the RL area towards commercial development and the award of petroleum licences,” it said. Armour has booked contingent resources based on the Glyde 1 ST1 discovery.  
 
If granted, Armour said, the RLs will put the company in a good position to take advantage of the current gas shortage and the Northern Territory's and federal government's "gas led recovery" objectives, by providing local gas to local businesses and communities.   
 
The company is in preliminary discussions with third parties for the supply of gas with the intention of producing and selling gas from 2022 onwards, it said.  
 
 

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