Orca Energy Limited advise that it has entered into an agreement to farm-out 22% of its Cooper Basin block, PEL 115, to joint venture partner and operator, Senex Energy Limited. Pursuant to the farm-out agreement, Orca will be free carried in respect of its remaining 20% for a dedicated unconventional gas exploration well to be drilled later this year. The drilling of the well is scheduled to follow Senex's three planned wells in its 100% owned block, PEL 516, where drilling is currently underway. The free carry will include extensive coring and completion and at least two fracture stimulations. The location of PEL 115 is significantly strategic as it is adjacent to the Cooper Basin unconventional gas fairway and surrounded by PEL 516, where Senex estimates a net gas-in-place resource of over 100 Tcf.