Senex Energy Ltd

Granted Petroleum Lease for Project Atlas: Senex Energy Ltd.’s (ASX: SXY) stock surged 8.1% on March 29, 2018 after the company revealed about grant of a Petroleum Lease and preliminary environmental approvals from the Queensland Government to develop Project Atlas for domestic gas supply. This grant is a key milestone for the project, which provides SXY on-ground access to progress environmental studies and other preliminary activities for the development of approximately 100 wells and associated infrastructure. The company now expects to receive all remaining State and Commonwealth approvals in mid-2019, and the delivery of first gas to the domestic market is targeted for late 2019. Project Atlas is a high-quality coal seam gas permit and granting of lease will allow the company to address the shortage of new east coast gas supply. Moreover, SXY is in discussions with parties to provide gas processing infrastructure. The company has materially progressed financing discussions with prospective lenders, and is looking forward to engage with domestic gas customers in the near term. Given any favorable oil price movement and greater demand for east coast gas while the stock is near its 52-week high price level, we put a “Hold” recommendation on the stock at the current price of $0.40
 

Liquefied Natural Gas Ltd

Extends Meridian LNG offtake agreement by three months: Liquefied Natural Gas Ltd.’s (ASX: LNG) stock fell 2.25% on March 29, 2018 after the company through its 100% owned project company, Magnolia LNG, LLC and Meridian LNG Holdings Corporation has agreed to extend the financial close date by three months of their legally binding offtake agreement to June 30, 2018. This three-month extension will allow both the parties to maintain commercial flexibility. However, not all other provisions of the governing agreements are amended by this extension. They remain in full force and effect. LNG had signed the agreement with Meridian LNG on 23^rd July 2015 and included firm capacity rights at Magnolia for up to 2 mtpa for an initial term of 20 years with an option to extend by a further five years. Meanwhile, LNG stock has risen 5.95% in three months as on March 28, 2018 and has fallen about 8.3% in last one month at the back of lower than expected half year result (with 11% drop in revenue as net loss narrowed a bit). As of now, we give a “Hold” recommendation on the stock at the current price of $0.435
 

Commercial status (Source: Company Reports)

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