Surat Basin operations update: Gas production reaches 20 TJ/day

ASX Announcement

Release Date: 22 January 2020

Surat Basin operations update: Gas production reaches 20 TJ/day

Senex Energy Ltd (Senex, ASX: SXY) is successfully delivering its Surat Basin natural gas development program on schedule and on budget, with production outperformance at both Roma North and Atlas.

Key points:

• Roma North gas production outperformance; rates exceeding 13.5 TJ/day
• Atlas gas production outperformance; rates exceeding 6.5 TJ/day
• 49 wells drilled to date in current program; 33 wells on production with the remainder online in coming weeks
• Roma North gas processing facility (16 TJ/day, ~6 PJ/year capacity) achieving excellent uptime performance
• Atlas gas processing facility (40 TJ/day, ~15 PJ/year capacity) in final commissioning phase
• Gas sales to CleanCo, CSR and Orora successfully commenced from Atlas
• New Atlas gas sales agreements signed; total contracted volumes of more than 32 PJ to six customers

Roma North production has exceeded 13.5 TJ/day and is tracking towards the plant's initial capacity of 16 TJ/day or around 6 PJ/year. 26 wells have been drilled at Roma North in the current program, with 10 of these wells online and producing and the remainder to be brought online in the coming weeks. Average daily production rates across the field exceed 0.3 TJ/well and are increasing.

At Atlas, the first 23 wells are online and producing above 6.5 TJ/day during the early ramp-up phase, with most wells being online for less than nine weeks.

Managing Director and CEO Ian Davies said Senex's Surat Basin production performance demonstrated the quality and potential of these assets, and the execution capability of the Senex team.

"Senex starts 2020 with most of its Surat Basin gas development program successfully delivered and gas production rates continuing to outperform.

"We are delighted with our operational and production performance to date, and we look forward to continuing to deliver the potential of our Surat Basin assets," Mr Davies said.

Senex will release its quarterly results for the second quarter of FY20 on Thursday, 23 January 2020. A conference call will be streamed live at 10.00am AEST (Brisbane) and can be accessed via the Senex company page on the Open Briefing website: http://www.openbriefing.com/OB/3656.aspx. A recording of the conference call will be available from 5.00pm AEST via the same link.

Senex Energy Limited	Head Office	Phone [phone]
ABN 50 008 942 827	Level 30, 180 Ann Street, Brisbane Qld 4000	Facsimile [phone]
ASX: SXY	GPO Box 2233, Brisbane Qld 4001	Web www.senexenergy.com.au	Page 1 of 3

ASX Announcement: Surat Basin operations update: Gas production reaches 20 TJ/day

49 wells of current campaign drilled and completed; drilling efficiencies continue to improve

Roma North gas field has exceeded 13.5 TJ/day production

First Atlas gas sales to CleanCo in December 2019 and to CSR and Orora on 1 January 2020

New wells being progressively brought online; 33 wells of 49 drilled on production; all wells online in coming weeks

Atlas gas field producing above 6.5 TJ/day from 23 wells during early ramp-up

Surat Basin gas development program acreage

Senex Energy Limited	Head Office	Phone [phone]
ABN 50 008 942 827	Level 30, 180 Ann Street, Brisbane Qld 4000	Facsimile [phone]
ASX: SXY	GPO Box 2233, Brisbane Qld 4001	Web www.senexenergy.com.au	Page 2 of 3

ASX Announcement: Surat Basin operations update: Gas production reaches 20 TJ/day

Authorised by:	Investor and media enquiries:
Ian Davies	Derek Piper	Paul Larter
Managing Director and CEO	Senior Advisor - Investor Relations	Communications Manager
Senex Energy Ltd	Senex Energy Ltd	Senex Energy Ltd
Phone: [phone]	Phone: [phone]	Phone: [phone]

About Senex

Senex is a growing Australian oil and natural gas explorer and producer. We are focused on creating sustainable value for all stakeholders through low-cost, efficient and safe operations in the Surat and Cooper basins. Senex is helping to meet the energy challenge on the east coast of Australia through natural gas development projects which include Atlas, Australia's first dedicated domestic gas acreage.

Senex Energy Limited	Head Office	Phone [phone]
ABN 50 008 942 827	Level 30, 180 Ann Street, Brisbane Qld 4000	Facsimile [phone]
ASX: SXY	GPO Box 2233, Brisbane Qld 4001	Web www.senexenergy.com.au	Page 3 of 3