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Serinus Energy PLC- oil company with operations in Romania and Tunisia - Announces successful spudding of Moftinu-1008 well in Romania on Saturday, located around 1.4 kilometres northeast of the Moftinu gas plant. Serinus plans to drill the well to a depth of 1,000 metres, penetrating five gas-bearing sand formations, three of which are producing zones of the Moftinu-1007 well. If drilling proves successful, the new well will be completed, tested, and brought on-production via a flowline connection to the gas plant.
"The company and its contractors have worked diligently to ensure that proper protocols are in place to deal with the uncertainty regarding the Covid-19 pandemic, and Serinus remains confident the well can be drilled while maintaining safe protocols for all employees and contractors during the drilling programme," Serinus says.
Current stock price: 3.19 pence, up 4.6% on Monday
Year-to-date change: down 0.3%
By Anna Farley; annafarley@alliancenews.com
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