Santos: Joined Armour Energy in $15M deal

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Santos: Joined Armour Energy in $15M deal

Santos: Joined Armour Energy in $15M deal

  • Amour Energy (AJQ) will be joined by large-cap energy player Santos in a $15M partnership
  • Santos also will pocket up 70 per cent of the small-cap through a farm-in deal for Amour’s “ATP1087” prospect
  • The large-cap also will pocket all of Santos costs as the companies work away pending a Queensland Government permit approval
  • Amour has also said Santos is open to spend an additional $15M for similar deals at other Queensland and Northern Territory Permits
  • Shares today in Amour Energy on the Australian market have gained 1.689% to trade at six cents each
  • Shares in large-cap Santos have fallen 2.55% to trade for $7.85 each