“Being awarded preferred tenderer status for these new tenements is an exciting development for the company as it increases the company’s exposure to the South Nicholson Basin and in particular the highly prospective Lawn and Riversleigh shale formations,” Armour Energy Chief Executive Robbert de Weijer said.
The two tenements increase Armour Energy’s acreage position by about 5,400 sq km.
Native Title agreements and relevant environmental clearances are still required before Armour can be granted an exploration permit over the preferred tender areas.