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Armour signs LoI for US$100m Northern Territory farmout to AEP


Published Aug 21, 2015
Armour Energy Ltd

The Directors of Armour Energy Limited are pleased to advise that the Company has executed a non‐binding Letter of Intent (LOI) with American Energy – Acquisitions LLC, an affiliate of American Energy Partners, LP (AEP), whereby AEP and Armour will jointly further the exploration and development of Armour’s extensive oil and gas prone McArthur Basin Project in the Northern Territory of Australia.

Under the LOI, the parties will work towards execution of definitive agreements within 3 months, subject to up to 3 extensions of up to 3 months each, at AEP’s election upon payment of US$250,000 in cash to Armour for each extension.

Tags: American Energy Partners, Armour Energy Ltd




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