Page 13 - AsianOil Week 38 2021

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of October 2021. The capital cost of the The offer received strong interest and agreement to supply the Capricorn Copper
re-stimulation will be funded 100% by a was supported by a number of Australian mine, owned by Australian resources
private entity, consistent with previous institutional and sophisticated investors in the company 29Metals Limited, with around 2.5
guidance that Armour would seek partners energy sector. petajoules (PJ) of natural gas over three years.
to fund production enhancement work Richard Cottee, GAS Executive Chairman, The Capricorn Copper mine is located
programs. said he was very pleased with the robust approximately 120 kilometres north of Mount
The Warroon #1 well was drilled by investor interest and the level of bids received. Isa, Queensland.
Hematite Petroleum in 1979 targeting the “The strong demand for this placement Natural gas is to be supplied by Senex at
Showgrounds sandstone and produced 8.1 reflects the increasingly high prices the Diamantina Power Station in Mount Isa,
mmscfd on DST. The well was completed in for gas and support for the mission the generating the power required to operate the
the Showgrounds sandstone and produced Company has embarked on to bring new Capricorn Copper mine. The Diamantina
3.5 BCF of gas, 95,500 bbls of condensate supplies to market in 2023. 2023 is the Power Station is owned and operated by APA
and 6,950 tonnes of LPG. Additionally, an year which the ACCC in its recent report Group.
unexpected gas saturated Rewan section indicates is the start of a critical need Under the three-year agreement starting
was encountered immediately below the for additional gas supplies. The funds 1 January 2022, Senex will supply around
Showgrounds which flowed 150 mscfd, accepted will enable us to commence 2.5 PJ of natural gas to support mining and
however was deemed too tight to complete at production testing at Rougemont and processing operations at a fixed price, in line
that time. undertake further drilling, as well as with current market levels. Terms have also
ARMOUR ENERGY, September 23, 2021 complete the appraisal programme for been agreed that can extend gas supply a
Reid’s Dome”, Mr Cottee said. further two years which would increase sales
State Gas completes A$8mn STATE GAS, September 24, 2021 up to around 4 PJ.
Senex Managing Director and CEO Ian
placement Senex signs new gas Davies said the company was proud to supply
another strong regional Queensland customer
State Gas is pleased to advise it has supply deal with natural gas from its Queensland
successfully completed an A$8 million operations.
placement at $0.32 per share (Placement). Senex Energy today announced a gas sales SENEX ENERGY, September 24, 2021

Week 38 24•September•2021 www. NEWSBASE .com P13