BIRKHEAD OIL DISCOVERY IN THE COOPER BASIN

July 26, 2017

Senex Energy Limited announced it has made a Birkhead oil discovery on the western flank of the South Australian Cooper Basin, with the Marauder-1 well flowing at 655 barrels of oil per day on a drill stem test. The Marauder-1 exploration well is located in ex PEL 104 (Senex 60% and operator, Beach Energy (40%), approximately 2 kilometres north of Senex’s producing Growler and Spitfire oil fields. The well was identified from the Mollichuta 3D seismic survey and was designed to evaluate the production potential of the Birkhead Formation. Marauder-1 encountered good oil shows within well developed Birkhead sands and evaluation of logs indicate net pay of up to 8.6 metres within a 17.5 metre gross oil column. The flow rate was calculated to be 655 bopd, with no indications of formation water throughout the drill stem test. The well will be cased and suspended and is expected to be placed on production in the coming months via a flowline to connect the well to existing infrastructure on producing western flank fields. Senex Managing Director and CEO Ian Davies said the result demonstrated the material untapped potential remaining on the prolific western flank. “We are delighted to commence the FY18 financial year with this discovery. We look forward to bringing Marauder-1 online at the earliest opportunity, while assessing further drilling prospects in this area.” (Source: Senex Energy)