Senex Energy Limited: What Investors Need To Know

  • Dec 17, 2018 AEDT
  • Team Kalkine
Senex Energy Limited: What Investors Need To Know

On December 17, 2018, Senex Energy Limited (ASX: SXY) has come forward and made an announcement regarding the Gemba-1 gas exploration well. The company has made an announcement with the help of issuing a press release. As per the press release, the company stated that they have managed to wrap up initial flow test with respect to Gemba-1 gas exploration well which is located in Cooper Basin and the stabilization was witnessed with respect to the flow rates of around 8 mmscfd plus associated liquids. Having a look at the viewpoints of the company’s management, the top management reflected favorable views. According to them, the company’s performance is in line with the strategy which revolves around on becoming an important supplier with respect to gas.

The company plans to become a crucial gas supplier to the east coast market, and the management stated that this achievement which is related to Cooper Basin happens to be the additional source of supply. In October 2018, Senex Energy Limited had issued a press release in which they have given the production numbers for FY 2019 as well as numbers related to the capital expenditure. On the release dated October 29, 2018, the company has declared production guidance between 1.1-1.5 mmboe with respect to FY 2019. The press release also stated that the favourable momentum with respect to the production would be supported by the progress regarding the gas volume as well as oil drilling successes. In the same press release, the company has also given the capital expenditure or CAPEX expectations, and these are expected to be between $110-130 million on the net basis with respect to FY 2019.

Earlier, the company had also reported the quarterly report which covers the information related to the September 2018 quarter. As per the quarterly report published by the company, the company had witnessed a rise in the production of 4% and stood at 281 kboe. This rise has been witnessed from the previous quarter. Between Q4 FY 2018 and Q1 FY 2019, the company had also witnessed a rise of 3% from $23.1 million to $23.8 million with respect to the capital expenditure. Let us now have a look at the company liquidity position which the company had maintained at the end of September 2018 quarter.

As per the press release issued related to the quarterly report, Senex Energy Limited stated that they are in a strong position when it comes to liquidity and the company possessed cash reserves amounting to $57.6 million at the end of September 2018 quarter. Talking about the stock performance on December 17, 2018, the stock has ended the session in red.

The stock price of Senex Energy Limited ended the session at A$0.350 per share which represents that the stock has encountered the fall of A$0.010 per share or 2.778%. The market capitalization of Senex Energy stood at $523.08 million.

In the span of previous one month, the stock has delivered the return of -7.69%.


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