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Senex Energy discovers new oil horizon at South Australia oil field

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Senex Energy’s (ASX: SXY) Burruna-3 appraisal has intersected a new oil horizon at its Burruna oil field in the Cooper Basin, South Australia.

The well had encountered about 3 metres of interpreted net pay in the previously untapped Lower Birkhead Formation with wireline logging underway to confirm the discovery.

Burruna-3 also confirmed the structural mapping of the Burruna oil field and intersected the Namur Formation that delivered flow rates of up to 3,600 barrels of oil per day at the Burruna-2 well and encountered good quality oil and gas shows in the Murta Formation.

The Murta Formation is productive in the adjacent Fury and Mirage fields.

Senex has a 80% interest in PEL 115 while Orca Energy (ASX: OGY) holds the remaining 20%.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Price: 0.34 AUD

ASX:SXY
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Market Cap: $495.06 m
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