Senex Energy (ASX:SXY) should trade higher after identifying over 450 leads and prospects for oil and gas exploration in majority held, operated permits in the South Australian Cooper-Eromanga Basin.
This follows a year-long program of work, with comprehensive analysis of regional mapping and 3 dimensional seismic data.
Three main prospective regions have been delineated, encompassing the prolific western flank oil fields, high impact northern permits and rejuvenated southern areas.
Notably, 80% of the new leads relate to conventional oil and lower risk structural traps, with the remaining 20% relating to conventional gas and stratigraphic traps.
The identification of these new targets highlights the growth potential of Senex’s oil and gas operations in the Cooper-Eromanga Basin.
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