Ann: Gemba-1 Gas exploration well, page-10

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17/12/18

17:26

Post #: 36884987
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Originally posted by Papabuy ↑

YUP!...sounds pretty positive and that is why 3 Directors of SXY were buying shares 2 or 3 days before the announcement is published.....mmmm
MUST be a good time to buy and top up our positions too!!
GO SENEX!!

Senex Energy Ltd (Senex, ASX: SXY) has successfully completed the initial flow test of theGemba-1 gas exploration well in the Cooper Basin, with stabilised flow rates of approximatelyeight million standard cubic feet per day, plus associated liquids.Key highlights:• Seven-day Gemba-1 flow test recovers 44 million standard cubic feet of gas and 88 barrels ofliquids• Stabilised flow rate of approximately eight million standard cubic feet per day• Preliminary interpretation of volumes indicates pre-drill estimate of 15 billion cubic feet ofultimate gas recovery may be exceeded• Validation of potential new gas play in the Dullingari group• Extended production test planned for Q3 FY19, with potential for first gas by the end of 2019Senex Managing Director and CEO Ian Davies said: “Senex is delivering on its strategy to become amaterial supplier of gas to the east coast market, and this Cooper Basin gas discovery adds anotherpotential supply source from our growing portfolio. With potential for further upside through near fieldexploration and a new gas play in the Dullingari group, the Cooper Basin continues to play an importantrole in our growth strategy.”The Gemba-1 gas exploration well (PEL 516: Senex 100% and operator) is located on the southwestmargin of the Allunga Trough, close to existing infrastructure and approximately 37 kilometres south westof the Moomba processing facility.

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Papabuy,
This has got to be a big buy.

I don't think I have ever read a better Senex ASX release. 8 million is a BIG number.

No wonder the Directors have been buying. This is a seriously positive announcement.

SXY Price at posting: 35.0¢ Sentiment: Buy Disclosure: Held
13 Upvote

1 Great analysis

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Ann: Gemba-1 Gas exploration well, page-10

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