Armour Energy has advised that Pinemont Technologies Australia has completed the acquisition of airborne geophysical data over a portion of six Northern Territory permits covering 20,000km2.
Armour undertook the airborne survey on behalf of McArthur Oil & Gas in advance of the proposed demerger and IPO of McArthur.
The airborne survey is the largest private enterprise survey of its type to be undertaken in the Northern Territory.
The survey was aimed at detecting anomalies in areas of upward fluid flow of migrating hydrocarbons above fluid pathways and/or hydrocarbon accumulations.
This will provide information over existing prospects and leads, and a regional context upon which to plan future follow up exploration work.
The six exploration permits include Eps 171, 174, 176, 190, 191 and 192, which cover the highly prospective Batten Fault Zone and several oil and gas play fairways.
Armour chief executive officer Brad Lingo said his team has worked closely with the Northern Territory Government, the Northern Land Council and Aboriginal Protection Areas Authority.
“We are very pleased that this survey was completed ahead of schedule and within budget. this will be a great tool for mcArthur in working up the forward work program,” he said.
“The potential of the area covered by the survey has already been demonstrated through multiple drilling successes. McArthur will be able to integrate the critical data that this survey will provide into the existing knowledge base. The potential of this area is enormous, and the survey is located over the highly prospective parts of our acreage.”
Armour further advised that initial processed data will be available within a month of acquisition, allowing McArthur early planning for follow up work.
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