Armour Starts Shale Drilling in Northern Territory

Armour Energy has commenced its 2013 Northern Territory drilling campaign has commenced with spudding of the Myrtle Basin 1 well.

The Northern Territory campaign has been designed to further evaluate conventional gas accumulations within the Coxco Dolomite to potentially convert up to 264 BCF of Mean Prospective Resources to Contingent Resources from 23 identified prospects; and unconventional potential of the Barney Creek Shale Formation.

In April 2013, Armour Energy announced unrisked Mean Prospective Resources of 264.4 BCF relating to 23 targeted areas in the Coxco Dolomite of the Teena Formation, a conventional, free‐flowing reservoir in the Batten Trough, McArthur Basin.