SXY 0.00% $4.60 senex energy limited

Good point Toastro, with Senex foreshadowing 3mmboe of gas from...

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    Good point Toastro, with Senex foreshadowing 3mmboe of gas from the Surat Basin by 30 June 2021, that is only 24 months away and we should see an almost straight line of production increases from the current rate to 3mmboe between the September 2019 Quarterly and the June 2021 Quarterly.

    Will be interesting to see what production they can squeeze out of the Cooper in 2021, there is still $13m of the BPT free carry left and they have some good follow up targets at Bregeut and Snatcher. I estimate that the Cooper Oil business will produce 0.5mmboe in 2021FY. Gemba itself could be 0.5mmboe of gas on top of that.

    So 4mmboe is quite achievable by 30 Jume 2021 particularly if Gemba keeps ticking boxes.

    SXY's operating cashflow between now and 2021 as production builds will fund any further drilling in the Cooper including Gemba. Gemba already has one well on it and may not require much more capex other than a pipe to get to production.

    Capex spend will now just be focused on drilling as the WSG gas plant is finished and being commissioned now.
    Senex may sell that plant and lease it back to free up $30m+ for drilling.
 
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