Each one in plain English, with the numbers worked through for a shareholder.
27 July 2016resource reserve update▲ GoodMajor
At 30 June 2016, 2P reserves rose 15% to 83.4 mmboe (net of Maisey sale) and 1P to 12.1 mmboe, with first Surat Basin 1P booking after the GLNG gas deal. Cooper contingent resources were cut 39% to 208 mmboe, mainly unconventional gas, after weak Hornet-1 and Kingston Rule-1 tests.
2 Mar 2016drilling progress report▼ Bad
No wells were spudded in February. Senex says it will do no drilling in the near future because of the subdued oil price outlook, and will stop monthly drilling reports until drilling resumes.
3 Feb 2016drilling progress report● Neutral
No wells were spudded in January, in line with the reduced capital program. Further drilling depends on the oil price outlook; a market update is promised with the half year results on 23 February 2016.
13 Jan 2016drilling result▲ Good
Ethereal-1, the second Origin joint venture gas well (PEL 637, Senex 60%), reached 3,234 m on 2 January, on prognosis and matching Efficient-1's hydrocarbon zones. It is cased and suspended for fracture stimulation and testing; Senex is free-carried.
2 Dec 2015drilling result▲ Good
Martlet-2 development well (Senex 60%) reached 1,535 m, found 4.5 m of net Namur oil pay, and was cased and suspended as a future producer, online early 2016. It adds to the Martlet field after Martlet-1 and Martlet North-1.
4 Nov 2015drilling result▲ Good
Efficient-1, the first Origin JV gas well (PEL 637, Senex 60%), reached 3,196 m with hydrocarbon shows; it will be cased and suspended for fracture stimulation and testing. Spitfire-7 began producing in late October, in line with expectations.
7 Oct 2015drilling result▲ Good
Spitfire-7 reached 1,827 m with 6.6 m of net Birkhead pay, on prognosis; cased and suspended, online expected November. Martlet North-1 began production at end September. Efficient-1, the first Origin JV gas well (Senex free-carried), spuds mid-October.
2 Sept 2015drilling result● Neutral
Fulcrum-1 (PRL 136, Senex 60%) reached 1,815 m, found Birkhead oil shows but poor reservoir, and was plugged and abandoned. Spitfire-7 was spudded. Growler-14 is online at 350 bbl/d. Martlet North-1 is expected online in October.
25 Aug 2015resource reserve update▲ GoodMajor
Net 2P reserves rose 137% to 94.6 mmboe at 30 June 2015 (from 39.9), mostly from the QGC gas swap, with gas 83.3 mmboe. Oil 2P fell to 11.3 mmbbl (from 13.3). 1P fell to 4.3 mmboe. Some Murta reserves were reclassified as contingent because of low oil prices.
3 June 2015drilling progress report● Neutral
Senex finished its FY15 drilling at 13 wells, against an original 26, with none spudded in May. The cut followed the lower oil price. FY16 work program is being finalised, with a market update due by the 25 August results.
6 May 2015drilling result● Neutral
Dunoon-3 (1,268 m) and Morris-1 (1,486 m), both Senex 100% on the Dunoon Ridge, showed oil but no movable hydrocarbons in the McKinlay at Dunoon-3. Both were cased and suspended as future Murta tight oil producers. Thirteen FY15 wells are now drilled.
8 Apr 2015drilling scheduled● Neutral
No drilling in March; eleven FY15 wells are done. Senex plans to spud the twelfth, Dunoon-3 (PRL 161, 100%), in April, a low-risk oil target on the producing Dunoon Ridge, in line with the shift to lower-risk spending.
4 Mar 2015drilling result▲ Good
February report: Martlet North-1 confirmed with 3.2 m net Namur pay. Growler-14 (PPL 242, Senex 60%) reached 1,890 m with about 6 m net porous sand above the oil-water contact and was cased as a future Birkhead producer, pending testing. Eleven FY15 wells drilled.
4 Mar 2015drilling progress report● Neutral
Beach's February report repeats the Martlet North-1 result (3.2 m net Namur oil pay, cased and suspended, tie-in timing to be determined) and Growler-14 (cased and suspended, cased-hole test later). Senex is the 60% partner; no new Senex results.
24 Feb 2015drilling result▲ GoodMajor
Martlet North-1 (PRL 148, Senex 60% operator, Beach 40%) found a Namur oil discovery with 3.2 m net pay, 1.1 km from the producing Martlet-1. It is cased and suspended as a future producer, with tie-in timing subject to field development planning.
4 Feb 2015drilling spud● Neutral
Martlet North-1 (PRL 148, Senex 60% operator, Beach 40%) spudded in late January, targeting the Namur about 1.1 km northwest of the Martlet-1 producer. Planned depth 2,028 m. Drilling had reached 1,127 m at the report date.
14 Jan 2015drilling result▼ BadMajor
Senex confirms Sheerkhan-1 was plugged and abandoned (uneconomic oil volume, poor reservoir) and Jenners-1 abandoned at 2,525 m with poor shows. The six-well northern Cooper campaign found no commercial reserves. Rig moves to Martlet North-1, near the Martlet-1 discovery.
2 Jan 2015drilling result▼ BadMajor
Jenners-1 (PEL 100, Senex 55% operator) was plugged and abandoned at 2,525 m in pre-Permian basement, a dry hole. It ends the exploration campaign in the northern Cooper that began in late 2014.
24 Dec 2014farm in farm out agreement● Neutral
Tellus says it amended its PRL 108-110 farm-in with Senex: instead of a carried well, Senex funds about 42 sq km of 3D seismic, starting Q1 2015, and earns another 7% (Tellus left with 43%). Replaces the well commitment noted earlier.
23 Dec 2014resource reserve update▲ GoodMajor
Partner Beach estimates Martlet field (PEL 104/111, Senex 60% operator) gross 2P oil reserves at 589 kbbl (1P 214, 3P 1,634), the first Namur reserves in the permit. Facilities cost about $4.1m and are complete; Martlet-1 began producing in December.
15 Dec 2014drilling spud● Neutral
Cooper Energy reports Jenners-1 spudded 15 December in PEL 100 (Senex 55% operator, Santos 25.835%, Cooper 19.165%), targeting to 2,608 m, about 14 days including testing. It is the next well in the northern Cooper campaign.
3 Dec 2014drilling progress report● Neutral
November drilling report: seven FY15 wells drilled, eighth spudded. Akela-1 confirmed as trace to poor shows, cased and suspended. Sheerkhan-1 (PEL 182, Senex 57%) reached 2,350 m on 30 November with good Birkhead oil shows; testing under way, result not yet known.
12 Nov 2014drilling result▼ BadMajor
Cooper Energy reports Akela-1 (PEL 110, Senex 60% operator) reached 2,676 m with trace to poor oil shows and was cased and suspended for possible later evaluation of the Birkhead. Not a discovery; the rig moves to Jenners-1 in PEL 100 in December.
5 Nov 2014drilling result▼ Bad
Bagheera East-1 (PEL 514) was plugged and abandoned as non-commercial, though hydrocarbon shows confirm oil migration. Akela-1 is drilling. Martlet-1 flowed 2,596 bopd and starts production in December; Hornet-1 is being completed for extended testing, with production expected in the December quarter.
29 Oct 2014drilling spud● Neutral
Orca Energy reports Akela-1 spudded on 29 October in PEL 110 (Orca 20%, Senex 60% operator). Partner repeat of the Cooper Energy notice.
29 Oct 2014drilling spud● Neutral
Cooper Energy reports Akela-1 spudded 29 October in PEL 110 (Senex 60% operator, Cooper and Orca 20% each), targeting oil to about 2,686 m, with about 17 days planned including testing. Part of Senex's northern exploration campaign.
20 Oct 2014drilling result▼ BadMajor
Planet Gas reports two drill stem tests at Bagheera East-1 (PEL 514) found no moveable hydrocarbons; the well is being plugged and abandoned. Despite earlier oil shows, it is the second dry hole in a row in PEL 514 after Hathi-1.
15 Oct 2014drilling progress report● Neutral
Planet Gas reports wireline logging of Bagheera East-1 (PEL 514) is complete and drill stem testing is being prepared. No flow result yet.
13 Oct 2014drilling progress report● Neutral
Planet Gas reports Bagheera East-1 reached 2,547 m with oil shows in the Birkhead, Poolowanna and Hutton formations; wireline logging is being prepared. An early positive sign, with no test result yet.
8 Oct 2014drilling result● Neutral
Senex's September drilling report: five of 26+ FY15 wells drilled. Martlet-1 is due on production in November; Squire-1 had poor-reservoir oil shows and Hathi-1 (2,569 m) had only trace hydrocarbons, both plugged and abandoned. Rig moves to Bagheera East-1.
