Agree entirely, This is very good news. And sane news. Just...

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16/04/18

19:19

Post #: 32490274
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Originally posted by rollacoaster ↑

Yep great result:
- Removes SXY's capex/cash requirements for the Western Flank for the next 18 months and frees up cash and (future) debt solely for WSG and Atlas development to the tune of $40m+
- Accelerates and increases Exploration and Production from the Western Flank
- Allows Senex to sell/farm down the Unconventional assets again at a later date

Would have been nice to spend the $43m on unconventional assets but given the risks, costs (when free carry runs out) and timeframes involved as well as the fact that the first three wells either found nothing or ran into trouble, this is such a good result.

The original deal with Origin has effectively result in a few (failed) exploration wells and now a $43m gift for Senex to further its base business.

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Agree entirely,
This is very good news. And sane news. Just recently they advised they were going to make the best use of their opportunities.

With oil heading higher this is very sensible news. Unconventional can wait forever as far as Senex is concerned.

I read today that South Koreas's LNG imports are soaring. And Middle East tension has upped the price of crude oil but it is going to go up anyway.
Not enough investment in the last 3 plus years.

Well done Senex. A sensible outcome.

SXY Price at posting: 42.5¢ Sentiment: Buy Disclosure: Held
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Agree entirely, This is very good news. And sane news. Just...

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