Senex Energy update on Cooper Basin unconventional gas exploration sparks heavy trade MORE than six million shares in Cooper Basin-focused explorer Senex Energy were traded yesterday - more than double its daily average in the past week - following an update on its unconventional gas program. The oil and gas producer and unconventional gas explorer said gas had flowed to surface at a rate of more than two million cubic feet a day at the Hornet-1 well in southern Cooper Basin permit PEL 115, which it owns jointly with Orca Energy. Initial production testing and pressure monitoring at Hornet-1 will continue this month, Senex managing director Ian Davies said. Our exploration work to date confirms the southern Cooper Basin could hold a massive new gas resource. We are moving quickly to capitalise on that potential," he said. Senex completed a multi-zone fracture stimulation of the Hornet-1 well last month. The well was stimulated over the interval 2484m to 2678m, targeting the tight gas sands of the Patchawarra Formation. Last month it reported flows of 1.2 million cubic feet a day from its Kingston Rule-1 well, targeting the same formation. Mr Davies said the Hornet-1 result further demonstrated the quality of the tight gas sands resource in the southern Cooper Basin. Tight gas is the most mature unconventional play in the Cooper Basin. Since February 25 - when Beach Energy and global giant Chevron announced a $349 million deal to target unconventional and shale gas in the area of SA and Queensland know as the Nappamerri Trough - Senex shares have traded above 65c with investors anticipating a similar deal with an international major. Senex shares closed yesterday at 71.5c, up 6 per cent.