Hi Fishinnick,
Senex have not actually let Ambassador have the asset.
Please ready the following announcement and you will understand the agreement.
http://www.ambassadorexp.com.au/announcements/2011-08-19-senex-press-release-ambassador.pdf
Also have a read of the following article which will help you put the jigsaw puzzle together on how AQO and SXY are tied in.
http://www.adelaidenow.com.au/business/tino-guglielmo-to-spearhead-ambassador-oil-and-gas/story-e6frede3-1226189923664
shale gas exposure in afr. good for ambassador, page-22
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