Armour announces major move to start new company

AUSTRALIAN onshore oil and gas producer Armour Energy will undergo a major demerger, spinning off its northern Australia assets as a new ASX listed business called McArthur Oil & Gas.

Armour announces major move to start new company Armour announces major move to start new company Armour announces major move to start new company Armour announces major move to start new company Armour announces major move to start new company

 

Armour Energy told shareholders on Wednesday it would raise between $60 million and $65 million through a capital raise and initial public offering to ensure McArthur Oil & Gas was well