Ann: Senex to continue its unconventional gas exp, page-4

re: Ann: Senex to continue its unconventional... Mags reaction to today's anns was quite negative with the sp falling as low as 62c before settling around 64-64.5c now.
I wonder if Energy stock Traders and Instos have had time to do their homework on what these anns really tell us.

This article below is from Upstreamonline.com today and it focuses on the extent of our upcoming unconventional drilling and testing activity and I notice it also ends with the same paragraph as the Ann' itself did, referring to sourcing a deep drilling Shale rig.....

Australia-listed Senex Energy has contracted Weatherford’s 826 rig to drill the next two wells in its 12-well unconventional gas programme in South Australia’s Cooper basin.
The 1500-horsepower rig is contracted to drill the Skipton-1 well in Senex’s wholly-owned PEL 516 permit, and the Kingston Rule-1 well in its 55%-owned and operated PEL 115 permit, in the southern portion of the basin.

The wells will be drilled to a total depth of about 3000 metres and extensively cored.

They will target the Roseneath-Epsilon-Murteree (REM) package of shale and tight gas sands, as well as tight gas sand and deep coal seams in the Patchawarra formation.

Senex stated that drilling would start “in the coming weeks”, with each well expected to be drilled and cased in less than 60 days.

Skipton-1 is scheduled to spud in the second week of August.

Kingston Rule-1 is planned to spud in October, subject to joint venture approval of the location.

Following completion of the two wells, Senex has planned to conduct a large-scale three-well fracture stimulation campaign to test gas deliverability and composition across the Permian section of each well.

This campaign will also include the Talaq-1 exploration well in PEL 516, which was completed in June.

Last week, the company announced its Sasanof-1 well in PEL 516 had flowed at a peak rate of 178,000 cubic feet per day during post-stimulation clean-up activities.

Senex has also revealed that it is currently in the process of sourcing a dedicated unconventional gas rig to drill the remainder of the wells in its Cooper basin exploration and appraisal programme.