Last checked at 26 Apr 2019 07:00
SERINUS ENERGY PLC
Gas Production Commences At Moftinu
Jersey, Channel Islands, 26 April 2019 -- Serinus Energy plc ("Serinus", "SEN" or the "Company") (AIM:SENX, WSE:SEN), is pleased to announce that production has commenced at the Moftinu Gas Plant in Romania.
Gas from the Moftinu 1003 production well has been flowed through the gas plant into the sales gas pipeline. The processed gas meets the water dew point and hydrocarbon dew point specifications set by the Romanian National Gas Transportation Company, Transgaz.
The Company will follow a conventional start-up program whereby production parameters and plant performance will be stabilized, after which gas from the Moftinu 1007 well will be also be brought onto production and flowed through the gas plant. During the start-up and stabilization period gas will be sold on a daily basis. Following the start-up period, and once gas volumes are more regular, gas will be sold on a monthly basis as per the previously announced Gas Sales Agreement.
Serinus CEO Jeffrey Auld commented: "This is an extremely important milestone for Serinus. Gas production, plant operation and the resulting sales of processed gas will be transformative for Serinus and the Moftinu region. The Company is proud of the efforts that its staff and the team at our Romanian EPC Contractor have put into this project to achieve this milestone".
About Serinus
Serinus is an international upstream oil and gas exploration and production company that owns and operates projects in Tunisia and Romania.
For further information, please refer to the Serinus website (www.serinusenergy.com) or contact the following:
Serinus Energy plc +1-403-264-8877
Jeffrey Auld, Chief Executive Officer
Calvin Brackman, Vice President, External Relations & Strategy
Numis Securities Limited +44 (0) 20 7260 1000
(Nominated Adviser and Joint Broker)
John Prior
Paul Gillam
Emily Morris
GMP FirstEnergy +44 (0) 20 7448 0200
(Joint Broker)
Hugh Sanderson
Jonathan Wright
Camarco +44 (0) 20 3781 8334(Financial PR - London)Billy CleggOwen Roberts
TBT i Wspólnicy +48 22 487 53 02
(Financial PR - Warsaw)
Piotr Talarek