From citi.. 0031 GMT - The near 10% rally in Senex Energy's...

From citi..

0031 GMT - The near 10% rally in Senex Energy's shares yesterday may not have fully priced in the extent to which reserves at its Atlas natural-gas project could increase, Citi suggests as it lifts call on the stock to buy from neutral. A review of the geology around Atlas reassures the investment bank that the energy company can unlock its reserves target, while a deal on infrastructure and a new debt facility reduce project risk. Citi's target on the stock climbs 27% to A$0.57, but it reckons at spot oil the valuation could rise to A$0.65. The stock is up another 2.2% this morning to A$0.45.