Ann: Armour Progresses to Firm Contracted Gas Supply, page-2

I am perplexed about the lack of interest in AJQ.  Surely they have a promising future??

Highlights:

 On 22 December 2016, Armour announced the execution of a Gas Sales Agreement (GSA) withAustralia Pacific LNG Pty Ltd (APLNG) for volumes up to 3.65PJ/a.   

 The GSA has now entered Period 2 which requires Armour to supply 5 TJ/d to APLNG under a“firm” delivery obligation for a 5‐year term.  The second tranche of 5 TJ/d, over the same 5year term, will be sold on an “as available” basis to APLNG subject to certain conditions.

 Armour’s future gas production as available over and above 10 TJ/d is currently uncontracted,and is planned to be sold to the Eastern Australian gas market.

 The GSA with APLNG provides a strong financial base for Armour to continue to developproduction to 20TJ/d as per the company’s current four‐phase growth strategy.