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10 Oct 2019 07:00
SERINUS ENERGY PLC
Operational Update
Jersey, Channel Islands, October 10, 2019 -- Serinus Energy plc ("Serinus", "SEN" or the "Company") (AIM:SENX, WSE:SEN) is pleased to provide an update on its operation in Romania and Tunisia.
Romania
The Moftinu Gas Plant began production on 25 April 2019. Gas production and operational performance of the plant has been as anticipated. The plant will enter a period of routine maintenance on 14 October 2019. This period is a pre-planned post-commissioning maintenance cycle where the plant will be taken offline, inspected and have routine maintenance performed. This maintenance period is expected to last until 21 October 2019 at which time the plant will resume processing of the Moftinu gas.
Tunisia
As announced in the Company's H1 financial results, the Chouech Es Saida field was restarted with production resuming from all four wells in August 2019. This field was shut-in since February 2017. Oil production from the wells is increasing as the water cuts from the wells diminish. The Company is pleased with the progress to date and is expecting the wells to achieve full production in the near future.
Operations at the Sabria field are normal.
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 Jeffrey Auld, Chief Executive Officer Calvin Brackman, Vice President, External Relations & Strategy | +1 403 264 8877 |
WH Ireland Limited (Nominated Adviser and Joint Broker) Katy Mitchell Harry Ansell (Broker) Lydia Zychowska | +44 (0)20 7220 1666 |
Arden Partners plc Paul Shackleton / Dan Gee-Summons (Corporate Finance) Fraser Marshall (Equity Sales) | +44 (0) 20 7614 5900 |
Camarco (Financial PR - London)Billy CleggOwen Roberts | +44 (0) 20 3781 8334 |
TBT i Wspólnicy (Financial PR - Warsaw) Katarzyna Terej | +48 22 487 53 02 |
Translation: This news release has been translated into Polish from the English original.
Forward-looking Statements This release may contain forward-looking statements made as of the date of this announcement with respect to future activities that either are not or may not be historical facts. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable as of the date hereof, any potential results suggested by such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors that could impair or prevent the Company from completing the expected activities on its projects include that the Company's projects experience technical and mechanical problems, there are changes in product prices, failure to obtain regulatory approvals, the state of the national or international monetary, oil and gas, financial , political and economic markets in the jurisdictions where the Company operates and other risks not anticipated by the Company or disclosed in the Company's published material. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties and actual results may vary materially from those expressed in the forward-looking statement. The Company undertakes no obligation to revise or update any forward-looking statements in this announcement to reflect events or circumstances after the date of this announcement, unless required by law.
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