The Directors of Armour Energy Limited (ASX: AJQ) wish to provide an update on its Cow Lagoon #1 well on EP 176 in the Northern Territory.
The surface casing has been set and cemented on Cow Lagoon #1 at a depth of 240 metres and the drilling rig is now making preparations to drill out to a planned total depth of 850 metres.
The well will target and test hydrocarbon potential in the Reward Dolomite, Barney Creek Shale and the Coxco Dolomite formations.
The emphasis of the investigation will be to assess the maturity, organic carbon content, hydrocarbon content and suitability of the Barney Creek Shale for reservoir stimulation.
Armour Energy will provide further updates as the well progresses.
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