Minister Welcomes Senex Energy’s Equity Injection

Minister Welcomes Senex Energy’s Equity Injection

Queensland Minister for Natural Resources and Mines Anthony Lynham

Gas Investment Shows Confidence In Qld Resources

Victor P Taffa

Natural Resources and Mines Minister Dr. Anthony Lynham today welcomed the latest signs of investor confidence in Queensland’s gas sector, with Senex Energy’s announcement of a new equity injection.

Senex today announced that private equity company EIG Global Energy Partners was becoming a substantial shareholder, which would accelerate Senex’s proposed Western Surat Gas Project north of Roma.

“This shows real market confidence in our resources sector and particularly Queensland’s $70 Billion CSG-LNG industry.” Dr. Lynham said.

“This industry already directly employs 5,000 people and supports more than 60,000 fulltime jobs.”

“We understand this project will generate up to 100 jobs, of which 80 will be local roles in drilling and construction.”

Senex produces oil in the Cooper Basin and has supply contracts with Origin-GLNG for CSG supply from its Western Surat Gas Project.

In its statement to the ASX, Senex said the funds raised would allow it to accelerate the Western Surat project and increase Cooper Basin oil production.

Dr. Lynham said the Western Surat project would operate under a strong regulatory framework, strict environmental conditions and land access conduct and compensation requirements put in place by previous Labor governments.