Oil and gas company, Senex Energy (ASX:SXY) has received environmental approval to develop its Western Surat Gas project in eastern Australia.
The approval from the Queensland Government allows Senex to develop 425 wells with gas and water gathering networks, compression facilities and water infrastructure.
The remaining Commonwealth regulatory approvals for the development of the project, as well the granting of a Petroleum licence is expected by the close of this financial year.
The company says 2018 will an exciting time for the company, with production of material gas from its phase 2 wells.
Shares in Senex Energy (ASX:SXY) are trading 4.41 per cent higher to $0.35.