Media Release: Hancock welcomes news of approval of bid to acquire Senex Energy

Hancock welcomes the news that the court has approved the joint Hancock/POSCO bid to acquire Queensland based natural gas company Senex Energy, that was endorsed by shareholders on the 15th March.

Commenting on the Senex scheme approval Mrs Gina Rinehart AO, Chair of the Hancock Group of Companies said, “I am delighted with the Senex approval which is the largest Hancock investment in the energy sector. We believe that the energy sector, fundamental to maintaining our businesses and standard of living, has an important future given policies have caused the lack of investment in many areas which has already caused energy prices worldwide to rise. Recent events in Europe have served as a stark reminder underlining the criticality of energy security.”

Garry Korte, Hancock CEO said, “In 2021 Hancock established its new energy division given the rising importance of competitively priced energy to underpin our mining, defence and their related industries, the agricultural and transport sectors and energy’s vital role in our daily lives.”

Tad Watroba, Hancock’s Executive Director commented, “POSCO and Hancock have a very successful track record of working together for over 12 years and Mrs Rinehart and I especially, are excited to be working with them now also in energy. The Senex joint venture is a testament to the strong relationship between Hancock and POSCO.”

Mrs Rinehart added, “Hancock looks forward to working with POSCO to support the exciting growth plans and pursue opportunities for further growth in Senex production to satisfy the continuing and increasing demand for energy, both in Australia and throughout the Asian region.”