Exploration & Production | Operational Updates
Armada Reports Louisiana Production Steady
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Armada Oil, Inc., an oil and gas exploration and production company, reported today on its current financing initiative as well as its ongoing operational activities.
Operations in the fields in south Louisiana were not significantly impacted by the recent tropical storm and production is holding steady at approximately 550 net BOE per day. The significant increase in capital availability that is expected to come from the financing package referenced above would be highly beneficial in that it would give the Company the ability to develop its proved reserves in its south Louisiana fields at a much faster rate than would result from financing the work solely out of cash flow.
Randy M. Griffin, CEO of Armada Oil, Inc. said, "Confidentiality agreements prevent us from providing additional…
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