Armour Energy has entered into a sale and purchase agreement with Australia Pacific Liquefied Natural Gas (LNG), or APLNG, for the sale of its 10% interest in petroleum lease 1084, known as the Murrunga block, in the Surat basin of Queensland, for $4-million. Under the terms of the agreement, APLNG will pay an initial deposit of $500 000 within five business days of the execution of the agreement, with a further $3.5-million upon satisfaction of certain customary completion conditions.
