AJQ 3.13% 3.1¢ armour energy limited

Ann: Armour Energy Commences Gas Sales into Qld Spot Market, page-8

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  1. 411 Posts.
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    good question @orion123.  Production includes Myall Creek 4A as that started commercial production on October 5th 2018. I personally do not think that the latest well, Myall Creek 5A is connected. On 13 December the company said it was cased and suspended as a future production well. They were waiting for a service contractor. On 21 December the company said nothing about it being connected, but they did state the plan was to   lift production to 15TJ/d over coming weeks - this was from existing wells, including recently drilled wells plus from storage.

    We have all been waiting patiently and then the 21 January 2019 update simply repeats the above comments by saying they have been selling 11 TJ/day and is now targeting 15 TJ/day. Not selling 15, targeting. No comment that any production was from 5A so I would say it is still "cased and suspended".

    Lets hope it starts producing very soon or should I say "within days" as AJQ needs the cash flowing.


     

 
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