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Armour Energy Ltd

ASX:AJQ
A$0.100Latest close held · delayed

Past year: ▼ 20%(10.0c – 12.5c AUD)

Market cap
A$10.2m
Shares on issue
102m
In-ground value
A$793m
Risked multiple
19.48×
Story beats
218 since 2012
Last event
29 Aug 2024

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

12 June 2012drilling progress report● Neutral

Armour's version of the Lakes Oil update: Holdgate-1 at 1,560m and drilling ahead toward a proposed 2,500m. No results yet. Duplicate of Lakes Oil's release.

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5 June 2012drilling progress report▲ Good

Cow Lagoon 1 has approval to deepen from 1,300m to 1,800m, with gas shows from 342m down, including a 3-minute show near 1,000m. Drilling was hard earlier but eased with new techniques. A decision on the well's future comes within about a week.

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29 May 2012drilling progress report● Neutral

Armour's version of the same update: casing cemented at 427m in Holdgate-1, with drilling to restart toward a proposed 2,500m. Duplicate of Lakes Oil's release.

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29 May 2012drilling progress report● Neutral

Lakes Oil reports 9 5/8" casing cemented at 427m in Holdgate-1. Drilling is due to restart the next day toward a proposed 2,500m total depth, unless basement is hit earlier.

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24 May 2012drilling progress report▲ GoodMajor

Cow Lagoon 1, Armour's first McArthur Basin well, hit gas shows in the Reward Dolomite at 342–540m, in tight rock with poor porosity. Main targets lie deeper. Armour cites an independent 18.6 TCF mean prospective resource for the permits.

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24 May 2012drilling progress report● Neutral

Holdgate-1 in PEP166 (Gippsland Basin) was at 160m and drilling ahead. Targets are the Strzelecki Group tight gas and the deeper Rintouls Creek Sandstone/Tyers Conglomerate. Armour is funding the well to earn 51% of the permit. No results yet.

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23 May 2012drilling spud● NeutralMajor

Lakes Oil reports Holdgate-1 was spudded in the Gippsland Basin's PEP166, testing the Strzelecki Group for tight gas on the Baragwanath Anticline. Armour funds the well as part of earning 51% of PEP166.

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23 May 2012drilling spud● Neutral

Armour confirms Holdgate-1 was spudded in PEP166, Gippsland Basin, targeting the Strzelecki Group tight gas and a deeper Rintouls Creek Sandstone oil prospect. Armour funds it to earn 51% of the permit. Duplicate of Lakes Oil's release.

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