Secured regulatory approval for the Western Surat Gas Project: Senex Energy Ltd.’s (ASX: SXY) stock rose 3.54% on August 14, 2018 after the company secured regulatory approval for the Western Surat Gas Project development under the Commonwealth Government Environment Protection and Biodiversity Conservation Act (EPBC). The company was previously granted State environmental approvals and Petroleum Lease.
The project is initially focusing on the Glenora and Eos blocks for the project development and the company is progressing to get the remaining financial, commercial and contracting requirements prior to taking a Final Investment Decision for the project. Moreover, SXY got this approval after the recent announcement of a cost effective corporate and development debt facility, along with partnering with Jemena for delivery of Project Atlas infrastructure. This step reflects continuing strong momentum in the execution of the company’s gas projects and the east coast gas strategy. SXY stock has risen 3.23% in three months as on August 13, 2018. The group is due to release the full year result on August 21, 2018.
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