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SANTOS LIMITED Capital/Financing Update 2016
65872_rns_2016-12-05_22739a2a-6ffb-4d14-8699-3a5cc2b308a1.pdf
Capital/Financing Update
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Armour Energy Limited
6 December 2016
Armour Exercises Pre‐Emptive Rights to Acquire Santos' Interests in Armour's Assets on the Roma Shelf, Surat Basin, Queensland
Amour Energy Limited (Armour, ASX:AJQ) is pleased to announce that it has exercised its pre‐emptive rights with respect to Santos' interests in the Armour‐operated tenements on Armour's Roma Shelf, Surat Basin assets. Armour and Santos have entered into a Sale and Purchase Deed in respect of these pre‐emptive right interests. The Sale and Purchase Deed is subject to certain conditions precedent, which have not yet been satisfied.
On completion of the Sale and Purchase Deed, Armour's holding in five (5) petroleum leases around the Kincora Gas Plant will increase to 100%, enabling Armour to more efficiently operate its assets across these leases. Armour will also increase its percentage holding on another four (4) leases.
Table 1 shows the percentage holding that Armour will have after completion of the Sale and Purchase Deed with Santos. Figure 1 shows a map indicating the Armour's Surat Basin leases including the 100% holdings post completion of the Sale and Purchase Deed.
Roger Cressey, Armour's Acting CEO commented: "We are excited about becoming 100% holder of the key tenements surrounding our Kincora Gas Plant. This will allow us to operate more efficiently and to focus on Armour's objectives to restart gas production across these leases, and to further explore and develop the region. This is another very positive step forward for Armour."
On behalf of the board Karl Schlobohm Company Secretary
For further information contact:
07 – 3303 0620 07‐3303 0661
Roger Cressey – Acting CEO Karl Schlobohm – Company Secretary
| Tenement | ArmourOperated | ArmourInterest Priorto Pre‐Empt | ArmourInterest AfterPre‐Empt |
|---|---|---|---|
| PL 14 | * | 100% | 100% |
| PL 53 | * | 100% | 100% |
| PL 70 | * | 100% | 100% |
| PL 511 (formerly PL 174) | * | 100% | 100% |
| PL 227 | * | 100% | 100% |
| PPL 3 | * | 100% | 100% |
| PPL 20 | * | 100% | 100% |
| PPL 63 | * | 100% | 100% |
| Newstead Gas Storage | * | 100% | 100% |
| PL 21 (see note) | * | 87.5% | 100% |
| PL 22 (see note) | * | 87.5% | 100% |
| PL 27 (see note) | * | 87.5% | 100% |
| PL 71 (production) (see note) | * | 90.0% | 100% |
| PL 264 (see note) | * | 90.0% | 100% |
| PL 30 (see note) | * | 75% | 90% |
| PL 512 (formerly PL 74) (see note) | * | 69% | 84% |
| PPL 22 (see note) | * | 69% | 84% |
| PL 71 (exploration) (see note) | * | 72% | 80% |
| ATP 1190 (formerly ATP 471) | * | 50.64% | 50.64% |
| ATP 754 | * | 50% | 50% |
| ATP 647 (Block 2656) | 50% | 50% | |
| PL 28 | 46.25% | 46.25% | |
| PL 69 | 46.25% | 46.25% | |
| PL 89 | 46.25% | 46.25% | |
| PL 320 (formerly PL 10W) | 46.25% | 46.25% | |
| PL 11W | 46.25% | 46.25% | |
| PL 12 W | 46.25% | 46.25% | |
| PL 11 Snake Creek East Exclusion Zone | 25% | 25% | |
| ATP 1190 (Bainbilla) (formerly ATP 471) | 24.748% | 24.748% |
(Note: Leases the subject of the Sale and Purchase Deed with Santos.)
Table 1: Armour tenements
Figure 1: Map showing Armour's Surat Basin lease position after completion of the SPD with Santos
About Armour Energy
Armour Energy is focused on the discovery and development of world class gas and associated liquids resources in an extensive and recently recognised hydrocarbon province in northern Australia. This region has only recently had its shale potential identified by Armour Energy. The domestic and global demand for gas, combined with the new shale extractive technologies and experienced personnel, provides Armour with an extraordinary opportunity to define and ultimately develop a new liquids rich gas province.
Armour Energy's permit areas are characterised by low population densities, cooperative stakeholders and aspects of the natural environment suited to the exploration and development of a future gas and liquids province. Armour places considerable importance on close liaison with traditional owners and all stakeholders.
Armour Energy is focusing on the exploration of the McArthur, South Nicholson and Georgina Basins in the Northern Territory and Queensland, and in the onshore Gippsland Basin in Victoria in joint venture with Lakes Oil, for gas and associated petroleum liquids.
Armour's September 2015 acquisition of assets and resources on the Roma Shelf is helping to establish the Company's future as a petroleum producer.
Further information regarding Armour Energy Limited is available on Armour's website at www.armourenergy.com.au