Senex in bid for oil, gas tenures
A CASHED-UP Senex has bid for oil and gas tenures in the Bowen and Surat basins as it prepares for development of its coal seam gas projects.
The Brisbane-based oil and gas company has raised $55 million through an institutional placement to EIG, which now holds 12 per cent of the company, and another $36 million in a share purchase plan with existing shareholders.
Senex has also spudded a well in the Cooper Basin. It describes this as “high impact’’ and part of its $105 million exploration program with Origin.