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Senex Makes Oil Discovery in Cooper-Eromanga Basin Permit PEL 113

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Senex Energy Limited announced Thursday that it has delivered a significant new oil discovery with the Dunlop-1 exploration well in southern Cooper-Eromanga Basin permit PEL 113 (Senex 100 percent) in South Australia.

Wireline logs have confirmed a net pay interval in the McKinlay Member of approximately 10 feet (3 meters) and a subsequent drill stem test has resulted in oil free-flowing to surface at a rate of 1,200 barrels per day.

An interpreted net pay interval of up to 30 feet (9 meters) in the Murta Formation will be tested by further drill stem tests in the coming days. Dunlop-1 will be cased and suspended as a future oil producer and will be brought on production this quarter.

The success of Dunlop-1 further confirms the opportunity to add reserves and increase oil production across Senex’s extensive South Australian Cooper Basin permits from the current 30 plus well drilling program.

Ensign Rig 48 commenced drilling Dunlop-1 Oct. 1 and reached a total depth of 4,820 feet (1,469 meters).

Rig 48 will now move to the Pirraminta-2 exploration well in PEL 514.

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