Senex Energy Limited (ASX:SXY) has today revealed a major oil reserves upgrade. The energy company says it has received independent certification of the upgrade across its Cooper Basin acreage.
The upgrade includes a 138 per cent increase in the proved oil reserves and a 90 per cent increase in the proved and probable reserves at Growler oil field.
Senex Managing Director, Ian Davies, says the increase of 1.7 million barrels of oil in net proved and probable reserves represents potential revenues of more than $US200 million at current oil prices.
Senex holds a 60 per cent interest in the Growler, Snatcher, Mirage and Ventura oil fields with the remaining 40 per cent interest held by Beach Energy Limited (ASX:BPT).
Senex Energy announced a net profit of $1.95 million for the six months to December 31, 2011.
