Page 17 - AsianOil Week 47 2021

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the three Malaysian companies listed in DJSI were featured on the DJSI Emerging Markets of the programme, a Pulsed Neutron Log
Emerging Markets globally. Index this year. will also be conducted to evaluate the gas
Commenting on this achievement, Datuk MISC, November 23, 2021 saturations of the Bandanna and Black Alley
Yee Yang Chien, President/Group CEO of reservoirs as future stimulation targets.
MISC said “We are extremely proud to be ARMOUR ENERGY, November 23, 2021
recognised by DJSI for our commitment in OCEANIA
environmental stewardship, sound corporate Armour secures farm-in
governance practices as well as generating Armour provides Surat
positive impact to our various stakeholders. partner to Surat acreage
This achievement is a significant milestone update
in MISC’s sustainability journey on a global The Board of Directors of Armour Energy is
scale which began almost a decade ago and The Warroon-1 fracture stimulation is expected pleased to advise that the Company has agreed
strengthens our commitment to raise the bar to take place in the third week of December. indicative terms with Gas2Grid for a farmin.
in our sustainability performance as we move This programme was originally forecast to Gas2Grid will fund 3D seismic acquisition,
forward.” commence in mid-October, but wet weather drilling, and fracture stimulation activity
Datuk Yee added “We believe that along with the availability of key contractor in exchange for 50% equity in a portion of
the advancement of our business should personnel has resulted in a delay. Mobilising Armour’s Surat Basin acreage. The investment
be balanced with the integration of key personnel for the programme has been will increase Armour’s production in 2022,
environmental, social and governance (ESG) materially impacted by continuing COVID-19 and the 3D seismic activity is expected to
principles in various aspects of our strategy restrictions in Queensland and Western define many drilling opportunities, similar to
and operations and this makes good sense in Australia. The contractor has provided the the transformational impact 3D seismic has
order to create meaningful and sustainable Company with a high degree of confidence that had in the Cooper Basin.
value in the long term. Our decisions and the current schedule will be maintained. Riverside 1 was drilled in June 1997
actions in the years to come will continue As previously announced, Armour reached targeting the Tinowon formation. The
to be structured around our sustainability agreement with a private entity in September Riverside Tinowon C is estimated to contain
agenda, driven by the concerted effort of 2021 to fund the re-fracture stimulation of 2.6 bcf Original Gas In Place but has produced
our employees, businesses and partners, and Warroon-1. The stimulation will target the negligible gas to date. It is a low permeability
guided by our aspiration of moving energy to Basal Rewan sandstone. In exchange for a 50% but overpressured formation making it an
build a better world.” share of the incremental production uplift excellent candidate for fracture stimulation.
Manjit Jus, Global Head of ESG over 6 years, the private entity will fund 100% In addition to the Tinowon C, there are other
Research, S&P Global said “We congratulate of the capital (estimated cost of $700k). formations behind pipe which are good
MISC Berhad for being included in the The workover programme on Myall candidates for fracture stimulation.
Dow Jones Sustainability Index (DJSI) Creek-2 is expected to commence in the first The Riverside field is a large 480-acre
for the Emerging Markets category. A week January 2022. The well will be cleaned structure, which is well mapped based on 3D
DJSI distinction is a reflection of being a out and recompleted to enable testing of seismic data. There are additional drilling
sustainability leader in your industry. The potential bypassed pay in the Tinowon C opportunities based on existing 3D Seismic.
record number of companies participating reservoir. Gas2Grid will earn a 50% interest in the
in the 2021 S&P Global Corporate A workover rig will isolate the depleted Riverside Farmin block. This Farmin block
Sustainability Assessment is testament to Tinowon A perforations behind a straddle is a 30 km2 subset of PL 511 comprising
the growing movement for ESG disclosure packer arrangement designed to facilitate the Riverside field but excluding the Myall
and transparency.” future fracture stimulation. The Tinowon C Creek field. Gas2Grid will earn its interest by
The DJSI is one of the most prestigious reservoir will be perorated through tubing funding the drilling of a new well, Riverside
global indices of ESG investment and a and flow tested inline for a 30-day extended North-1, and subsequently funding a two-
leading global benchmark in corporate production test. At the end of the test period, stage fracture stimulation in either Riverside
sustainability and socially responsible a decision will be taken on the feasibility and North-1 or the existing Riverside-1 well.
investment. A total of 108 global companies timing of the Tinowon C stimulation. As part ARMOUR ENERGY, November 22, 2021

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