AJQ 3.13% 3.1¢ armour energy limited

A couple of things caught my eye in this announcement. Firstly,...

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  1. 1,504 Posts.
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    A couple of things caught my eye in this announcement.
    Firstly, we can better understand now what the hold up has been, with Armour having to wait for a rig to become available as I suspected. Wish it was already happening but still, a couple more weeks isn't the end of the world. And the crews don't seem to be sitting idle, as it looks like they're doing connections work back to front whilst waiting for the production tubing to be installed; connect that up and we're almost into Kincora processing mode. But probably the most important item I noted was that we are currently using "just under 2 tj/d" of Newstead Storage gas, and that when we finally connect MC 4a, we will not have to use Newstead supplies. To me, that indicates they're expecting "just under 2 tj/d" out of 4a to take its place.
    As far as Kreno stating $6000 p/tj, that's pretty close; I worked it out at $7,000 with the condensate and such.
    I also feel they will have learned a lot from this well, and will be better prepared for the next ones coming soon. Hope everyone's keeping positive.
 
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