The Directors of Armour Energy Limited are pleased to advise of good progress in the Egilabria 2 lateral well. The well is being drilled to test the reservoir characteristics and ascertain likely gas flow rates in a commercial development scenario for Armour Energy's gas resources in the Lawn Shale unit of the Isa Superbasin, ATP 1087, north of the regional mining and infrastructure centre of Mt Isa in north Queensland.

Armour Energy holds 100% of the project which contains a prognosed recoverable resource of 22 Trillion Cubic Feet (TCF) of gas. The Company is investigating the potential delivery of 330 Petajoules (PJs) of gas per annum to domestic and export LNG gas markets through a gas delivery system in conjunction with the APA Group.

Tags: Armour Energy Ltd