Armour Reports Rise in Gas Resources at Queensland Fields

Armour Energy has reported an increase in 2C contingent resources in Roma Shelf assets, Queensland, Australia. 

The 2C contingent resources (net to Armour) in the Myall Creek, Parknook, Namarah and Warroon fields have increased from 15 PJs to 92 PJs. The overall total 2C contingent gas resource (net to Armour) of the broader Kincora project area is now 105 PJs. 

Armour has a 100 percent working interest in the Myall Creek petroleum licenses PL511 and PL227, which cover an area of 78 km2, and a 90 percent working interest in the Parknook, Namarah and Warroon fields (petroleum license PL71, covering an area of 134 km2.     

The company said that 2C contingent resources will be reclassified to 2P reserves upon demonstrating economic viability following the re-start of the Kincora gas plant, which is likely to achieve first gas production by the end of 2016.  This will involve gas from the Newstead storage facility. The balance of the re-start will involve recommissioning of the LPG system at the Kincora gas plant and this is expected to be completed during Q1 2017, which is when Armour intends to bring the Myall Creek and other fields back into  production.