SXY 0.00% $4.60 senex energy limited

good pick-up re $20m from QGC. Gee the online interview just now...

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    good pick-up re $20m from QGC.

    Gee the online interview just now was good. best part is listening to Q & A.
    SXY confirmed $20m is included in cash, but not in cap ex figures.
    so Spec, you are spot on.
    he confirmed that SXY has taken on the liability of P&A of wells in Surat, I think he said 47 wells need P&A.
    he said $20m has to be spent over 3yr period, so timing is up to SXY.
    I was a bit disappointed to learn $20m was incl in $74m cash position.
    so theoretically they do not have that $74m to spend on drilling/dev't .

    they said All-in-costs now $30-$31/bbl
    royalties are based on POO, so royalties were previously $10-$11/bbl, but now down to $5-$6/bbl

    also he said Surat gas project not affected by Cap Exp slowdown - he expects Surat project to start producing 2017. (that's good news - I wish it were sooner.)

    he said Vanessa being completed as we speak, and will hook up with Hornet.
    also they are negotiating for sales of Vanessa product as we speak.
 
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