AJQ 3.13% 3.1¢ armour energy limited

Hi Porker. The Egilabria well was a proof of concept well to...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 1,504 Posts.
    lightbulb Created with Sketch. 40
    Hi Porker. The Egilabria well was a proof of concept well to test the Lawn Hill shale layer. There wasn't much info re flow rates given at the time except to say that they were able to flow hydrocarbons to the surface, thereby stating that they were successful in Australia's first hydraulically stimulated horizontal well. Later information came out that it was likely that only one of the fractures had worked and from memory I think they laid 4 or 6. The concept was correct, it's just that even using Haliburton (considered to be top notch specialists) it was still only regarded as a testing well. The vertical well, before the lateral kick off, encountered good gas shows. Further assessment showed that both the Lawn and Riversleigh layers to be good, even going as far as stating extremely high TOC, total otganic content of 8%. As I said, reported flow rates were basically non existant, but Armour considered ATP 1087 still to be world class provided the sweet spots were adequately stimulated. I can't believe they've written it off, just the opposite, however everything up there is expensive due to its remoteness and money was scarce. Investment in oil and gas just about fell off a cliff. That's partly where the Kincora Project comes in. Potentially it will pave the way for further action in NWQ and NT, slated by Armour to be phase 3. Hope this helps. It's interesting reading.
 
watchlist Created with Sketch. Add AJQ (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.