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Armour Energy and Santos Execute South Nicholson Basin Farmin Agreement

Gasoil News - Published on Mon, 09 Dec 2019

Image Source: Armour Energy North Queensland
The Directors of Armour Energy Limited announced that the company has now executed the South Nicholson Basin Farmin Agreement with Santos QNT Pty Ltd (Santos). Under the Farmin Agreement, Santos has the right to earn a 70% interest in Armour's North Queensland tenements, being ATP1087 (granted), and ATP1107, ATP1192 and ATP1193 (applications), and the Northern Territory tenements EP172 and EP177, both of which are also in the application phase. The remainder of Armour's Northern Territory exploration portfolio is not subject to, or affected by, this Farmin Agreement.

Armour's South Nicholson Basin exploration project area covers approximately 10.07 million acres and includes the Egilabria 2DW1 well, which was drilled in 2014 and the first hydraulically stimulated horizontal shale well in Australia to flow hydrocarbons to surface.

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Posted By : Yogender Pancholi on Mon, 09 Dec 2019
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