Each one in plain English, with the numbers worked through for a shareholder.
15 Dec 2011drilling result▼ BadMajor
Jaguar-1, the first exploration well of the program, will be plugged and abandoned at 1,850 m. The channel was present but filled with mudstone and siltstone rather than sand. Gas shows were seen. The rig moves to Growler-11.
14 Dec 2011joint venture update● Neutral
Partner Bow Energy's operations update on its Blackwater CSG pilot wells, repeating Senex's Kato-1 preliminary results in the Don Juan project (Senex 45%, Bow 55%). No new Senex information.
12 Dec 2011drilling result▲ Good
Kato-1 CSG well reached 330 m, with 9.8 m net coal and 7.6 m net gas-bearing carbonaceous shale, and four drill stem tests indicating excellent permeability. Coal thinned westward as expected. Kato-2 is planned for early 2012; gas content results are pending.
5 Dec 2011drilling spud● Neutral
Jaguar-1, the first of six exploration wells in the 11-well program, spudded 2 December 2011 in PEL 104 (Senex 60%), targeting the Birkhead Formation about 2.3 km from Growler to 1,850 m. Growler-6 and -9 have been suspended as producers.
28 Nov 2011drilling result▲ GoodMajor
Growler-9 found a 17.5 m gross oil column with at least 11.5 m net pay, much thicker than expected, extending the Growler field limits. Cased as a producer due online December 2011. Better than Growler-6's 6 m net pay; rig moves to Jaguar-1.
25 Nov 2011drilling spud● Neutral
Kato-1 coal seam gas well began drilling on 23 November 2011 in ATP 593P (Senex 45% operator, Bow 55%), targeting Walloon Coal Measures to 285 m. It is the first of two wells, extending work in ATP 771P where almost 200 PJ of 3P reserves are certified.
23 Nov 2011agm notice● Neutral
AGM chairman's address reviewing the year: market value about $500m, roughly triple that of 30 June 2010, and a 700,000 bbl production target for FY12. Mostly recaps known events, with no new operational news.
23 Nov 2011investor presentation● Neutral
AGM presentation repeating known points: a net gas-in-place claim of over 100 Tcf, a 700,000+ bbl target, and market capitalisation of $500m at 22 November. Rolls forward the Growler-6 success. No new results.
23 Nov 2011agm notice● Neutral
All seven resolutions at the 23 November 2011 AGM passed, including Ben McKeown's re-election, Ralph Craven's election and 2,000,000 options for MD Ian Davies. Closes the open AGM-outcome thread; routine governance.
15 Nov 2011regulatory community update▲ GoodMajor
Planet Gas says PEL 514 has been granted by PIRSA, ahead of the end-2011 expectation. This clears Senex's three-well farm-in, which earns 50% in the northern and 70% in the southern part, with Senex as operator.
15 Nov 2011investor presentation● Neutral
New York investor presentation repeating the growth story and targets, now citing the successful Growler-6 appraisal well. Reserves are shown as 6.9 mmbbl 2P oil. No new operational results.
11 Nov 2011drilling spud● Neutral
Growler-9 appraisal well started drilling on 11 November 2011, the second well in the 11-well program (Senex 60%, operator). It targets the Birkhead Formation to about 1,850 m.
7 Nov 2011drilling result▲ GoodMajor
Growler-6 found a 17 m gross oil column in the Birkhead Formation, with at least 6 m net pay, and was suspended as a future producer. This is the first result from the 11-well program and supports the 700,000 bbl target.
3 Nov 2011other● Neutral
Strike Energy (not Senex) announced its Cooper Basin plans, including one well in PEL 94, where Senex holds 15% and Beach operates. Strike and partners have approved the drilling in the Milpera Trough. Senex's share of the cost is not stated.
31 Oct 2011quarterly activities report▲ Good
September quarter: net oil production 79,115 bbl (860 bopd) versus 61,810 bbl the prior quarter. Growler and Vintage Crop are producing, and two Cuisinier wells came online. Cash was over $93m. Mostly recaps known events.
24 Oct 2011agm notice● Neutral
Chairman's letter accompanying the notice of meeting for the 23 November 2011 AGM, with proxy instructions and details of the new registry, Link. Administrative, no new information.
18 Oct 2011drilling spud● Neutral
Growler-6 appraisal well started drilling on 17 October 2011, the first of the 11-well PRL 15/PEL 104 program (Senex 60%, operator). Target depth is 1,850 m in the Birkhead Formation, which produces oil at Growler-1 to -5.
17 Oct 2011investor presentation● Neutral
Investor presentation for Singapore and Hong Kong repeats known points: over $90m cash after the raising, a target of over 700,000 bbl net in 2011/12, and the 11-well western flank program. No new results.
11 Oct 2011other● Neutral
Senex appointed Link Market Services to run its share registry from 17 October 2011. Administrative change with no effect on holdings or operations.
5 Oct 2011drilling result▲ Good
QGC drilled and suspended three Surat Basin CSG wells in PL 171 (Senex 20%); gas flowed to surface on Alex-7 testing, and net coal averaged close to 30 m. Senex will start Kato-1 and Kato-2 in Don Juan ATP 771P in November 2011.
30 Sept 2011annual report● Neutral
The 2011 annual report, themed 'positive change', recaps the rename from Victoria Petroleum to Senex in February 2011 and the Brisbane move. It describes the Cooper Basin oil, Surat CSG and unconventional gas businesses. The excerpt shows no new results or figures.
29 Sept 2011director officer appointment● Neutral
Dr Ralph Craven, chairman of Ergon Energy and former deputy chairman of Arrow Energy, joined the Board as an independent director, filling Pett's vacancy. Shareholders will vote on ratifying him at the 23 November AGM.
29 Sept 2011production update▲ GoodMajor
Growler production restarted on 29 September after Cooper Creek bridge and road repairs, in line with the late-September plan. Vintage Crop-1 oil production is due within days. Drilling programs in PRL 15 and PEL 104 can now start.
29 Sept 2011investor presentation● Neutral
Investor briefing repeating FY2011 results (net loss $3.3m, net assets $157.5m), the oversubscribed $53.3m raising and its use of proceeds. No new operational results.
26 Sept 2011capital raising announcement● Neutral
Senex issued 152,936,858 new shares from the entitlement issue, lifting shares on issue to 913,659,081. Sentient's two funds hold 8.90% and 7.48%; QGC holds 5.48%.
26 Sept 2011director officer appointment● Neutral
Robert Pett, a director for 28 years and chairman until 2008, resigned from the Board with immediate effect. He cited growing commitments with other resource companies.
22 Sept 2011annual report● Neutral
Full annual financial report for the year to 30 June 2011, lodged with the results announcement. Details are in the summary announcement; the audit is by Ernst & Young.
22 Sept 2011annual report▼ Bad
FY2011 net loss of $3.3m versus a $2.6m profit; net oil production fell 35% to 92,765 bbl, which the company attributes to Cooper Basin floods. Revenue rose 12% to $14.8m and net assets reached $157.5m after the Stuart acquisition.
21 Sept 2011capital raising announcement▲ GoodMajor
The $0.35 entitlement issue was significantly oversubscribed: over 122m shares taken as entitlements and top-up applications for over 63m shares against under 30m available. No shortfall shares, so Sentient's shortfall commitment was not needed. Shares issue 26 September.
19 Sept 2011regulatory community update▲ Good
Planet Gas says native title agreements for PELA 514 are executed, clearing the way for the licence grant. This removes the native title hurdle on Senex's farm-in, under which it funds three wells for 50% north and 70% south.
