Armour Reports Lamont Pass 3 Well Drilling Results Beat Expectations

Armour Energy provided the following update Wednesday on the Lamont Pass 3 vertical exploration well being drilled in the Company’s 100 percent owned EP 190 in the Northern Territory, Australia. The well is the second site testing for hydrocarbon accumulations located in the Glyde Sub‐basin of the McArthur Basin in 2013. Lamont Pass 3 is located 31 miles (50 kilometers) south of the Myrtle Subbasin and is 15 miles (25 kilometers) north of the Glyde 1 (ST1) gas discovery made by Armour Energy in 2012, which flowed up to 3.3 million cubic feet per day (MMcf/d). The well is at a depth of 3,024 feet (922 meters) progressing towards a planned total depth of approximately 3,937 feet (1,200 meters).

Update on Oil and Gas Shows

The well continues to encounter bitumen, blooming, milky and streaming oil cuts and live oil in the Barney Creek Shale source rock. First gas and minor golden yellow oil florescence have been encountered at 853 feet (260 meters) with significant connection gases also reported. Chips from core samples placed into nipple dishes from various depths and treated with with chlorothane (which draws out oil) clearly display the existence of hydrocarbons under florescence.

The well has penetrated a continuous section of oil‐bearing Barney Creek Shale from 853 feet (260 meters) to 2,559 feet (780 meters). Core barrels with hydrocarbon odour have been retrieved, connection and background gases have been observed with associated live oil in fractures, interbedded dolomites and consistent oil cuts from the Barney Creek Shale source rock.

Oil Window is More Extensive Than Previously Assessed

The common occurrence of live oil and cut substantiates extending the oil window previously assessed by MBA Petroleum Consultants (MBA).

Lamont Pass 3 is located in the recently granted EP 190 tenement which was not part of MBA’s assessment and covers an area of 4,949 square miles (12,818 square kilometers).

Previous Assessment by MBA for EP171 and EP176 Only

  • Total area: 4,449 square miles (11,525 square kilometers)
  • Depth of oil window: 0 to 1,148 feet (0 to 350 meters)

Revised Oil Window Post Lamont Pass 3 Results for EP171, 176 and 190


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