CANBERRA: Brisbane-based Armour Energy Limited, an oil and gas exploration and development company, provided Monday an update on its Prospective Gas Resources in the Northern Territory (NT) and Queensland (QLD), Australia as set out in Table 1.
The prospective resource assessment was performed independently by SRK Consulting (Australasia) Pty Ltd. Armour’s total Best Estimate Prospective Gas Resources in Northern Australia has increased from 34 to 57 Trillion cubic feet (Tscf), a 66 percent increase, as of September, compared to resources previously reported.
The update includes maiden Prospective Gas Resources from the Tawallah Group Unconventional Reservoirs in the McArthur Basin of the Northern Territory, as first announced by Armour April 29, and the Riversleigh Shale located beneath the Lawn Hill Shale in ATP 1087, Queensland. In addition, a new combined inventory totalling 193 conventional leads and prospects in the Northern Territory can target 4.9 Tscf of Best Estimate Prospective Gas Resources.
Armour CEO, Robbert de Weijer, said “It is still relatively early days, but as we continue to explore and appraise this hydrocarbon province, I am confident we will deliver commercial outcomes. To put it into context, one trillion cubic feet of gas can provide enough energy for one million people for 20 years, and our best estimate of prospective gas resources has been upgraded to 57 trillion cubic feet.
Potentially there will be multiple major developments in this vast, sparsely populated area. The current prospective and contingent resources are certainly a great starting point, and the proposed North East Gas Interconnector pipeline between the Northern Territory and Queensland will enable major supplies of gas to flow to east coast markets.
The fact that we have been able to partner with American Energy Partners testifies that these basins in Northern Australia could well become the next great hydrocarbon province on a global scale. American Energy Partners will bring world’s best practice in exploration and development and $130 million to this exciting project.”
