Oil and gas explorer Senex Energy Limited
(ASX:SXY) says it has extended its Snatcher oil field in South Australia’s Cooper Basin.
Senex is the operator of Snatcher and holds a 60 per cent stake in the joint venture with the remaining interest held by Beach Energy Limited
(ASX:BPT).
Senex advises the Snatcher-10 oil appraisal well has now successfully intersected an interpreted net oil pay of more than ten metres.
Snatcher-10 is co-located within the Snatcher-3 production well and designed to appraise the extent of the Snatcher oil fields 300 metres north-west of its surface location.
Senex Energy swung to an annual net profit of $8.9 million in the 2012 financial year.
