Armour Energy Limited (AJQ.ASX) is a junior energy producer and explorer with assets across northern, southern and eastern Australia. Pending the successful demerger and IPO of its Northern Basins’ assets via McArthur Oil & Gas (‘MOG’), AJQ will benefit from a restructured balance sheet after the injection of up to $40mn (asset transaction proceeds) and stronger focus on its Surat and Cooper basins programmes on an independently funded basis. The gas operating environment points to a persisting supply squeeze and higher prices and AJQ remains well positioned to benefit from planned work programmes over the next 12 months. The company is continuing to evaluate and build what will likely be a multi-year prospect portfolio with drill-ready opportunities. We would note that AJQ will look like a significantly different company post the demerger.
13 Sep 2021
A spin-out returns the focus to Armour
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A spin-out returns the focus to Armour
Armour Energy Limited (AJQ:ASX) | 0 0 -4.7% | Mkt Cap: 32.8m
- Published:
13 Sep 2021 -
Author:
Andrew Williams -
Pages:
13
Armour Energy Limited (AJQ.ASX) is a junior energy producer and explorer with assets across northern, southern and eastern Australia. Pending the successful demerger and IPO of its Northern Basins’ assets via McArthur Oil & Gas (‘MOG’), AJQ will benefit from a restructured balance sheet after the injection of up to $40mn (asset transaction proceeds) and stronger focus on its Surat and Cooper basins programmes on an independently funded basis. The gas operating environment points to a persisting supply squeeze and higher prices and AJQ remains well positioned to benefit from planned work programmes over the next 12 months. The company is continuing to evaluate and build what will likely be a multi-year prospect portfolio with drill-ready opportunities. We would note that AJQ will look like a significantly different company post the demerger.