Incorporation of New Gas Trading Subsidiary

RNS Number : 2437O

Serinus Energy PLC

07 October 2021

 

07 October 2021

Press Release

Incorporation of New Gas Trading Subsidiary

Jersey, Channel Islands, 07 October 2021 -- Serinus Energy plc ("Serinus" or the "Company") (AIM:SENX, WSE:SEN) announces that it has incorporated a new gas trading subsidiary, Serinus Energy Romania Trading S.r.l.  The subsidiary will initially trade the Company's Romanian gas production not committed under its marketing agreement with Vitol into the Romanian market.  Serinus Energy Romania Trading S.r.l has been created to allow our licenced gas traders to directly access the Romanian gas market and to capture the full value of gas prices in Romania. Serinus Energy Romania Trading S.r.l will be fully licenced by the Autoritatea Nationala de Regemenatre in domeniul Energiei ("ANRE"), the Romanian energy regulator, and is able to trade Serinus' gas production as well as third-party gas.

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 Andrew Fairclough, Chief Financial Officer Calvin Brackman, Vice President, External Relations & Strategy	[phone]
A rden Partners plc (Nominated Adviser & Joint Broker) Paul Shackleton (Corporate Finance) Tim Dainton (Equity Sales)	[phone]
Shore Capital Stockbrokers Limited (Joint Broker) Toby Gibbs / John More (Corporate Advisory) Jerry Keen (Corporate Broking)	[phone]
Camarco (Financial PR - London) Owen Roberts Phoebe Pugh	[phone]
TBT i Wspólnicy (Financial PR - Warsaw) Katarzyna Terej	[phone]

Forward Looking Statement Disclaimer

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.

Translation : This news release has been translated into Polish from the English original.

 

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