Senex Energy Limited (Senex, ASX: SXY) will commence a major, fully self-funded, oil drilling campaign this weekend, with more than thirty wells to be drilled back-to-back across the northern and southern Cooper Basin over the next 12 months.
Key points
- This campaign is the first phase of a broader, multi-year oil exploitation program across Senex’s 13,000 square kilometres of core oil permits in the South Australian Cooper Basin - Exploration, development and appraisal wells to be drilled in northern and southern oil provinces (refer Figure 1 and Figure 2) - Prospects generated from a detailed review of existing assets and interpretation of new 3D seismic surveys including the Cordillo and Lignum surveys (refer Figure 1)
Not too long to wait guy's 2 holes will go down in the prospective western flank within the next 3-4 months > all we need is one to hit oil & its game on. As I've mentioned before I assume the positive 3D data analysis was a key driver to the excellent deal offered by SXY to PGS on 15/05/13... One more time $10M market cap / $5M in the bank & 20% + bonuses of just under half a million acres in the Northern Cooper basin...I'm feeling luck...GLTA
PGS Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
