Senex Energy (ASX:SXY) has intersected 117 metres of net gas pay following the completion of drilling and casing the Paning-2 unconventional gas exploration well in the northern Cooper Basin permit PEL 90.
Paning-2 is the first unconventional gas exploration well to be drilled in the region and has confirmed the potential of the tight sands and deep coals to host material gas volumes.
The Paning-2 well drilled into a 9,000 acre structure and intersected 47 metres of net gas pay in the Permian tight sand and 70 metres in the deep coals of the Patchawarra Trough.
The productivity of the Permian coals was proven by Santos at the Moomba-77 well, where Patchawarra Formation coals flowed at 100,000 cubic feet per day.
Senex estimates potential gas in place of 2.1 trillion cubic feet in the deep coals with additional material gas volumes in the tight Permian sands.
It has also identified similar targets throughout the Patchawarra Trough.
Paning-2 will be fracture stimulated as part of Senex's Cooper Basin unconverntional gas program.
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