Drilling of Horizontal well (this one was 1,000m long) into existing oil pockets are designed to effectively increase flow rates and ultimately DRAIN the oil pocket asap. This successful well ...... (lots can go wrong with horizontals) is great news ..... it also means since they have it already on production that high flow oil will be pouring up and ..... into the bank account of Senex. (at circa $90 AUD per barrel mind you )
More horizontals, means sucking that oil up and out faster and more $$$ available to develop and fund the gas business.
SXY Price at posting:
40.8¢ Sentiment: Buy Disclosure: Held