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Senex Energy defines 450 oil and gas prospects in Cooper-Eromanga Basin, South Australia

Last updated: 04:00 10 Dec 2013 GMT, First published: 03:00 10 Dec 2013 GMT

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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.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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