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Senex Drills Duo of Cooper Basin Wells; IDs One Producer

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Senex Energy Limited has drilled thirteen wells of its FY15 drilling program in the South Australian Cooper Basin.

Dunoon-3 Oil Exploration Well

PRL 161 (Senex 100% and operator)

Dunoon-3 is a near-field oil exploration target located on the Dunoon Ridge in the southern Cooper Basin, targeting the Murta and McKinlay Formations. The well reached total depth of 1,268 metres on 17 April and was cased and suspended as a future oil producer, after encountering oil shows in both formations. A swab test of the McKinlay Formation confirmed no movable hydrocarbons, and accordingly the well will be suspended as a future Murta producer, to form part of Senex’s tight oil growth project in the region.

Morris-1 Oil Exploration Well

PRL 832 (Senex 100% and operator)

Morris-1 is an oil exploration target in the southern Cooper Basin, approximately 3 kilometres south west of Dunoon-3 and 1.5 kilometres from Dunlop-1. The well spudded on 28 April and reached total depth of 1,486 metres on 3 May. The well is designed to evaluate a separate four- way dip closure on the Dunoon Ridge, targeting the McKinlay and Murta Formations. Morris-1 encountered trace to fair oil shows with the best oil shows occurring in the Murta Formation. The well is being cased and suspended as a future Murta producer, also as part of the company’s tight oil growth project.

The results of Dunoon-3 and Morris-1 have provided further validation of the Dunoon Ridge portion of the Murta fairway, a regionally extensive tight oil system.