Senex Energy Limited announced it has entered into a binding agreement with Australia Pacific LNG to acquire undeveloped gas fields PL 209 and PL 445, adjacent to Senex's Atlas natural gas development, for $80 million with Atlas production to increase to 30 PJ/year in 2024. Key points: Senex plans to expand Atlas production (including PL 209 and PL 445) to a 30 PJ/year plateau in CY24 (currently expanding to 18 PJ/year), comprising half of the end-FY25 production target of 60 PJe/year; PL 209 and PL 445 include a 77 km2 development-ready Northern Area, comparable in reservoir quality to the adjacent Atlas field, and a 77 km2 Southern Area requiring future appraisal; Estimated Ultimate Recoverable (EUR) volume of 184 PJ in Northern Area2, with additional ~600 PJ estimated gas-in-place in Southern Area requiring future appraisal; No existing gas supply obligations or domestic marketing commitments providing portfolio flexibility; and Initial acquisition cost of $50 million, with a further $30 million payment upon receipt of satisfactory Commonwealth environmental approvals, funded from an acquisition bridge facility and existing cash and debt facilities.