Each one in plain English, with the numbers worked through for a shareholder.
4 Nov 2013drilling result▼ BadMajor
Pirraminta-2 in PEL 514 reached 1,771 m and found no significant hydrocarbons. It was cased and suspended as a future water well. This is a dry hole, and the second of the two farm-in wells due by end November 2013.
30 Oct 2013investor presentation● Neutral
Citi conference presentation by CEO Ian Davies recaps the three-year growth story and the 15-year tenure scheme. It says Burruna-2 is producing about 1,000 bopd, and Dunlop-1 will be on production this quarter. Largely repeats known facts.
25 Oct 2013asset acquisition disposition▲ GoodMajor
Orca completes sale of its 20% of PEL 115 to Senex (except Fury and Burruna blocks per earlier terms). Senex's 115,000,000 Orca shares were cancelled, and Senex nominee Denis Patten resigned from Orca's board. This completes the Orca deal that was awaiting approvals.
24 Oct 2013quarterly activities report▲ Good
September quarter: oil output 0.30 mmbbl (down 12% on a year earlier, up 3% on the prior quarter), revenue $39.3m, cash $105m, no debt. Burruna and Dunlop discoveries noted; 10 wells drilled; production guidance of 1.4–1.6 mmbbl kept, with a material production increase expected in the December quarter.
23 Oct 2013drilling progress report● Neutral
Sprigg-1 is preparing to run casing and plan a drill stem test over an interpreted 6.3 m net log pay in the Murta Formation from 1,593 m. No test result yet.
22 Oct 2013drilling spud● Neutral
Pirraminta-2 in PEL 514 spudded on 22 October, planned to 1,740 m. It is the second of two wells Senex must drill by end November 2013 under the Planet Gas farm-in.
21 Oct 2013drilling progress report● Neutral
Sprigg-1 in PEL 514 reached total depth of 2,470 m on 20 October and is being logged. It is the first of the two wells Senex must drill by end November 2013; Planet Gas is free carried.
18 Oct 2013drilling spud● Neutral
Planet Gas says Pirraminta-2 in PEL 514 (Senex 80% operator, Planet Gas 20% free carried) is about to spud, targeting the Murta Formation to 1,740 m. Sprigg-1 spudded 6 October and was at 1,546 m. Both count toward the farm-in's two wells due by end November 2013.
16 Oct 2013director officer appointment● Neutral
Senex signs a new employment contract with MD and CEO Ian Davies, replacing all prior arrangements, as foreshadowed in the 2013 Remuneration Report. Terms are in the AGM notice of meeting; this announcement gives no figures.
15 Oct 2013drilling progress report● Neutral
Tellus weekly report: Pirie-1 (PEL 105, Senex 50% subject to approval) is at 1,922 m after cementing surface casing and drilling 764 m this week. Continuing toward a 3,100 m target. No results yet.
15 Oct 2013production update▲ Good
Orca (20% partner) repeats that Burruna-2 started an extended production test after flowing over 3,600 bopd, restricted to about 800 bopd, with about 400,000 barrels recoverable in the Namur. Burruna-3 to be drilled in early November.
15 Oct 2013production update▲ GoodMajor
Burruna-2 (PEL 115, Senex 80%) began an extended production test after flowing over 3,600 bopd, restricted to about 800 bopd for now. Namur estimated at about 400,000 barrels recoverable if appraisal succeeds. Burruna-3 appraisal well follows Pirraminta-2.
10 Oct 2013drilling result▲ GoodMajor
Dunlop-1 in PEL 113 (Senex 100%) is a new oil discovery, flowing 1,200 barrels a day from about 3 m of McKinlay pay; up to 9 m of Murta pay is still to be tested. TD 1,469 m. It will produce this quarter.
8 Oct 2013drilling progress report● Neutral
Tellus weekly report: Pirie-1 (PEL 105, Senex 50% subject to approval) reached 1,158 m, with surface casing delayed when it stuck at 850 m. Drilling continues toward a 3,100 m target. No results yet.
2 Oct 2013drilling progress report▲ Good
September report: in the first three months of the program six wells were drilled and five cased as future producers. Kobari-2, Acrasia-7 (6.3 m net pay) and Ventura-2 (13.4 m net pay) are cased and suspended; Burruna-2 is being completed. Dunlop-1 spudded 1 October; Pirie-1 spudded 30 September.
2 Oct 2013drilling progress report▲ Good
Orca forwards Senex's September drilling report: Burruna-2 (Orca 20%) is completed for production, with an extended test due next week. Also notes 18 m of Murta core with free oil and fluorescence over 14 m. Other well details repeat known results.
26 Sept 2013other● Neutral
Senex removes the quarter-end trading blackout from its securities trading policy, because ASX reclassified it as a producing entity from 1 January 2013. The board keeps discretion to impose blackouts. Administrative change only.
11 Sept 2013farm in farm out agreement▲ GoodMajor
Tellus Resources agrees to farm out PEL 105 in the Cooper Basin to Senex. Senex gets 50% by paying $3.5m towards the Pirie-1 well, and rises to 70% (Tellus 30%) by funding another well by 30 June 2014, subject to ministerial approval. Tellus cites up to 3 million barrels recoverable.
5 Sept 2013agm notice● Neutral
Senex will hold its annual general meeting on 20 November 2013 at 9.30am at Brisbane City Hall. Administrative notice only.
4 Sept 2013drilling progress report● Neutral
Orca forwards Senex's August drilling report, highlighting Burruna-2 (Orca 20%) as a future oil producer with over 750 barrels a day in testing. Repeats known results.
4 Sept 2013drilling progress report▲ Good
August report: Ventura-2 (PPL 214, 100%) is cased as a future producer with about 12 m net pay; Burruna-2 is cased and suspended; Acrasia-7 is drilling. Mustang-1 is being recompleted with a high-rate pump. Kobari-2, Dunlop-1, Sprigg-1 and Acrasia-6 are next.
4 Sept 2013drilling scheduled● Neutral
Planet Gas says Sprigg-1 in PEL 514 (Senex 80% operator, Planet Gas 20%) will spud in late September 2013, targeting 2,464 m. It is the first of two wells Senex must drill by November 2013 under the farm-in.
28 Aug 2013half year report▲ Good
FY13 results: revenue up 110% to $147.9m, net profit up 585% to $61.0m, cash $126.8m, no debt. Oil production rose 108% to 1.25 mmbbl. Two of three wells drilled so far in the 30+ well program (Worrior-8, Burruna-2) are cased as future producers.
28 Aug 2013investor presentation● Neutral
Results presentation restates FY13 figures: revenue $147.9m, NPAT $61.0m, 2P oil 10.8 mmbbl, Hornet 3C gas 2.4 Tcf, and FY14 oil guidance of 1.4–1.6 mmbbl. Highlights the 30+ well program and 15-year tenure scheme; no new information.
28 Aug 2013annual report▲ Good
The 2013 Annual Report, with a plain, low-cost design, repeats FY13 results: record oil output of 1.25 mmbbl, 2P oil reserves of 10.8 mmbbl and $127m cash with no debt. The chairman says 2013/14 programs are fully self-funded; the share price closed the year at 59 cents.
28 Aug 2013annual report▲ Good
Appendix 4E for FY13: revenue up 110% to $147.9m and net profit up 585% to $61.0m, helped by gains on the Port Bonython Fuels ($3.6m) and Cuisinier ($15.5m) sales. No dividend is proposed.
23 Aug 2013drilling result▲ GoodMajor
Burruna-2 in PEL 115 (Senex 80%) is an oil discovery: 5.3 m net pay in the Namur, with oil flowing over 750 barrels a day without water in testing. It will be cased as a future producer, the first exploration success of the 30+ well campaign.
23 Aug 2013drilling result▲ Good
Partner Orca (20%, free carried) reports the Burruna-2 discovery: 5.3 m net Namur pay and over 750 barrels a day flowing, to be cased as a producer. Orca also notes Fury-1's earlier Murta oil column. Repeats Senex's result; no new information for Senex.
20 Aug 2013resource reserve update● Neutral
Planet Gas reports initial gross reserves for the Sprigg field in PEL 514 (Senex 80% operator): 1P nil, 2P 188 thousand barrels, 3P 725.6 thousand barrels. Senex is finalising plans for the Sprigg-1 well.
19 Aug 2013regulatory community update▲ GoodMajor
Senex and South Australia agree a 15-year retention licence scheme covering about 10,000 sq km of operated oil permits. It replaces permit-by-permit spending obligations with a portfolio target of about $30m a year net to Senex, giving tenure security.
