Senex Energy's (ASX:SXY) Hornet-1 gas exploration well in the southern Cooper Basin has flowed gas to surface at a rate of more than two million cubic feet per day.
The unconventional gas exploration well permit PEL 115 is 80 per cent owned by Senex and 20 per cent by operator Orca Energy (ASX:OGY).
Senex completed a multi-zone fracture stimulation of the Hornet-1 well in March.
The well was stimulated over the interval 2,484 metres to 2,678 metres, targeting the tight gas sands of the Patchawarra Formation.
Senex is bullish that the southern Cooper Basin could hold a "massive new gas resource".
Initial production testing and pressure monitoring at Hornet-1 will continue during April.
The well was first drilled back in 2004 by Victoria Petroleum, now Senex, when gas shows were observed in the Epsilon and Patchawarra Formations with gross calculated gas-bearing sandstones of 56 metres.
Two drill stem tests were conducted on this well with gas flowing to surface.
Cash held was $150 million in March 2013 with no debt.
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