September 5, 2017

Senex today announced it has been successful in the Queensland Government’s domestic gas acreage tender, with first gas targeted for 2019.

Senex was awarded 58 square kilometre Surat Basin coal seam gas acreage near Miles by the Queensland Government for Australian domestic gas supply, with estimated P50 recoverable gas volumes of 201 petajoules (PJ) and around 100 well locations proposed.

Senex Managing Director and CEO, Ian Davies, said the Company welcomed the opportunity to be part of the solution in delivering new gas supply to domestic customers on the east coast of Australia.

“Senex applauds the proactive steps taken by the Queensland Government to increase the supply of gas for Australia’s east coast. With extensive experience and a proven track record, Senex has been entrusted to deliver this important energy resource to market.

“We plan to engage with domestic gas customers in early 2018 with a view to signing gas supply contracts, with first gas targeted for 2019. This award enables Senex to materially expand its gas business while delivering energy security to domestic customers and opportunities for the local community. This clear example of our gas strategy in action will create jobs for Queenslanders and value for our shareholders,” Mr Davies said.

Senex was awarded the acreage for nil consideration following a competitive tender. The high quality acreage contains P50 recoverable gas volumes of 201 PJ1 and is capable of sustaining production rates of more than 30 terajoules per day at plateau. Senex expects to obtain regulatory approvals over the acreage in mid-2018.

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1Volumes estimated by SRK Consulting Pty Ltd via the Queensland Government Australia-only gas pilot project tender PLR2016/17-1C.