Armour bags resources boost in Queensland

Armour Energy has seen a massive boost in the 2C resources in the Myall Creek, Parknook, Namarah and Warron gas fields near Roma in Queensland.

Part of Armour’s Kincora project, the resources have jumped from 15 PJ to 92 PJ, taking the overall 2C resource of the broader project area to 105 PJ.

Armour has a 100 per cent working interest in the Myall Creek petroleum licences PL511 and PL227, which cover an area of 78 sq km, and a 90 per cent interest in the Parknook, Namarah and Warroon fields (PL71).

“This is a very positive outcome and these independently verified resources are in line with our expectations based on the work we have done since we acquired the Kincora assets in 2015,” said Armour CEO Robbert de Weijer.

“The PLs that encompass the 92 PJ of 2C resources cover just 211 sq km of Armour’s overall tenement position in the Roma Shelf.

“We look forward to further increasing our resources and reserves over the larger area covering a total of 3,000 sq km of contingent and prospective acreage including significant exploration upside.”

2C resources will be reclassified to 2P reserves upon demonstrating economic viability following the restart of the Kincora Gas Plant.

Since acquiring these assets the Armour team has been working on restart plans and is currently intending to achieve first gas production by the end of 2016.

The restart will also involve recommissioning of the LPG system at the Kincora Gas Plant, due to be completed in Q1 2017, after which Armour intends to bring the Myall Creek and other fields back into production.

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