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Armour Energy surges on deal to buy oil, gas assets from Origin Energy

2015-09-03 05:53:49| Oil & Gas - Topix.net

Takeover target Armour Energy has signed its second potentially-transformational deal in as many weeks, agreeing to pay up to $13 million for oil and gas production assets in Queensland owned by Origin Energy and sending its share price up by more than 100 per cent. If completed, the deal will give Armour cash flow within an estimated 12 months, through gas and condensates ventures on the Roma Shelf in the Surat Basin.

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