Senex Fails to Find Gas at Sprigg-1 Well in PEL 514 in SA's Cooper Basin

Planet Gas Ltd, an energy explorer with interests in conventional and unconventional oil and gas in Australia, gave an update Tuesday on the Sprigg-1 exploration well in South Australia's Cooper Basin as reported today by the operator Senex Energy Limited (Senex).

Senex are quoted: “No net pay calculated with a gas show in the Paning Member. Well suspended pending evaluation of test results”.

About Sprigg-1

The Sprigg-1 prospect is located in the central eastern sector of PEL 514 in the South Australian Cooper Basin.

Planet Gas holds a 20 percent project interest in PEL 514 while Senex Energy Limited (Senex), holds an 80 percent interest and is the operator. The Sprigg-1 well forms part of the initial farm-in agreement and second agreement with Senex. Planet Gas is free carried for the program.

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