The Directors of Armour Energy Limited (ASX: AJQ) (the Company) are pleased to advise that third-party resource estimates have been updated following the Company's 2013 Northern Territory exploration program.
SRK Consulting (Australasia) Pty Ltd. has based its estimate of 2,870Bscf (3,496 PJ) Mean Prospective Resources, unrisked, on fifty-five (55) of Armour's targeted prospects and leads. These estimates were made in accordance with the Society of Petroleum Engineers (SPE) Petroleum Resource Management System (PRMS) guidelines, and as of 26 November, 2013.
These estimates include and compare to the previous twenty-three (23) targets assessed by DeGolyer and MacNaughton containing 264.4 Bscf of Mean Prospective Resources, unrisked, in accordance with SPE PRMS guidelines and as of 1 April 2013.
The Coxco prospects and leads were defined by SRK based on extensive studies of surface geology, well data, regional geophysical data, and integration of the extensive airborne gravity and magnetic surveys completed by the Company.
