SXY 1.59% $3.10 senex energy limited

Takeover by Beach or Chinese?, page-130

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    More from motley fool....

    https://www.fool.com.au/2018/07/18/3-companies-with-huge-growth-opportunities/

    2. Senex Energy Ltd (ASX:SXY)

    Mid-tier, on-shore oil and gas producer Senex Energy is another company I see with huge growth opportunities ahead.

    Although production has waned over the last 3 years following the down-turn in oil prices, that is set to reverse rapidly upwards.

    Senex is preparing to develop resources in the Surat Basin and Cooper Basin through two key projects: the Western Surat Gas Project and Project Atlas. There are a number of tailwinds which will support the projects:

    • Expected gas supply shortages for east coast states bringing strong demand and pricing
    • Strengthened oil pricing
    • Strengthening global LNG demand
    • Significant 2P energy reserves (83.9 million barrels of oil equivalent as of 2017)
    The Western Surat Gas Project includes a 20-year gas sales agreement with the GLNG project operated by Santos Ltd (ASX: STO). However this growth comes at a cost and Senex is expecting to spend up to $100 million on capital expenditure in the 2018 financial year.
 
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Currently unlisted public company.

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