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$3.10 senex energy limited

Suspect this was the main thing left for financing to be sorted,...

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rollacoaster

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18/06/18

08:54

Post #: 33771607
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Originally posted by tjamuna1 ↑

Senex Energy Limited (Senex, ASX: SXY) today announced it has executed agreements with major infrastructure operator Jemena to partner on the accelerated development of Project Atlas.

Key points:
• Following the successful conclusion of a competitive bid process, Senex has partnered with major infrastructure operator Jemena to deliver first gas to the domestic market by late 2019
• Jemena will build, own and operate a gas processing facility with an initial capacity of 40 terajoules per day (32 terajoules per day of firm service at plateau) and an approximately 60 kilometre pipeline (the downstream infrastructure) to process and transport gas from Project Atlas via the Darling Downs Pipeline to the Wallumbilla hub
• Jemena will fund capital expenditure of approximately A$140 million associated with the design, construction and commissioning of the downstream infrastructure
• Senex will pay an agreed tariff for delivery of sales gas to the domestic market over a 25 year term

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Suspect this was the main thing left for financing to be sorted, given this pipeline and gas plant was $140m that Senex doesn't now need to fund.
Smart move given Senex is a gas company rather than an infrastructure company.

SXY Price at posting: 42.0¢ Sentiment: Buy Disclosure: Held
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