December 19, 2017

Senex Energy has entered an exciting stage of our gas business this month, with our Surat Basin gas projects hitting some great milestones.

Excellent preliminary results from our 100% owned and operated projects included bringing Phase 2 of our Western Surat Gas Project wells online, on schedule and on budget, with initial gas volumes ahead of expectations.

Managing Director and CEO Ian Davies said that Senex was making excellent progress on its projects in the Surat Basin.

“I am pleased to report that we have delivered Phase 2 of the Western Surat Gas Project on time and on budget, with all-in costs of A$1.2 million per well,” Mr Davies said.

“Phase 2 initial production results are ahead of expectations, producing over four terajoules of gas per day.”

Results from our Mimas core well also showed good quality coals and excellent permeability – subsurface characteristics in line with our high quality Eos and Glenora blocks.

These excellent results coupled with a strong appetite from lenders to support our projects in the Surat Basin, sets 2018 up to be an exciting year for Senex Energy’s gas business.

We will be applying the learnings from out Western Surat Gas Projects as we continue to establish the foundations for Project Atlas, which will see delivery of coal seam gas to the Australian domestic market from 2019.

Read further details in the full ASX report housed in our Investor Centre.