Gas Production Commences At Moftinu

RNS Number : 1731X

Serinus Energy PLC

26 April 2019

 

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                                                     [phone]

Jeffrey Auld, Chief Executive Officer

Calvin Brackman, Vice President, External Relations & Strategy

Numis Securities Limited                                           [phone]

(Nominated Adviser and Joint Broker)

John Prior

Paul Gillam

Emily Morris

GMP FirstEnergy                                                        [phone]

(Joint Broker)

Hugh Sanderson

Jonathan Wright

Camarco                                                                     [phone]
(Financial PR - London)
Billy Clegg
Owen Roberts

TBT i Wspólnicy                                                         [phone] 

(Financial PR - Warsaw)

Piotr Talarek

 

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