Senex Energy (ASX:SXY) has today announced its Surat Basin natural gas development projects are on schedule and on budget, with excellent recent progress at both Project Atlas and Roma North.
At Project Atlas Senex has drilled and completed, for production, the first five wells of about a 60 well Project Atlas drilling campaign.
The company says results to date have been excellent, with net coal intersections of up to 43 metres with first sales gas expected late 2019.
Meantime, at Roma North Senex has drilled and completed, for production, the first 10 wells of about a 50 well Roma North drilling campaign. The remaining six drilled wells are to be connected in coming weeks.
Managing Director and CEO Ian Davies said the results from our initial drilling program demonstrate excellent progress in the Surat Basin.
Shares in Senex (ASX:SXY) are trading 0.63 per cent higher at $0.40.