Senex Ups Qld CSG Reserves (Australia)

Senex Energy reported a significant upgrade of gas reserves and resources across its Queensland Surat Basin coal seam gas (CSG) permits.

KEY POINTS

– More than 500 petajoules (PJ) of net CSG reserves and resources independently certified.

– Net Proved and Probable (2P) CSG reserves increased by 75% to 138.1 PJ.

– Net Proved, Probable and Possible (3P) CSG reserves increased to 314.0 PJ.

– Net 2C contingent resource of 205.4 PJ ascribed.

– First reserves booked in western Surat Basin permit ATP 593P following successful exploration.

– Reserves and resources independently certified by MHA Petroleum Consultants LLC.

Senex Managing Director Ian Davies said the upgrade continued to demonstrate the value of the company’s Surat Basin coal seam gas assets, which are strategically positioned to supply gas to both the booming liquefied natural gas (LNG) industry and higher priced domestic markets.

“Our acreage in the Surat Basin contains a significant resource capable of making a material contribution to the east Australian gas market. With more than 500 PJ of net reserves and resource now certified, Senex is clearly well positioned to meet growing gas demand.

“In short, the acreage shows all the hallmarks of highly productive Walloon Fairway gas fields. We have gas rich, permeable coals, close to existing gas infrastructure and we look forward to continuing focused field appraisal and production testing through the 2012/13 financial year,” he said.

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LNG World News Staff, May 10, 2012