Final Payment Made on Senior Loan Facility

RNS Number : 1816M

Serinus Energy PLC

13 September 2019

 

SERINUS ENERGY PLC

Final Payment Made on Senior Loan Facility

Jersey, Channel Islands, September 13, 2019 -- Serinus Energy Plc ("Serinus", "SEN" or the "Company") (AIM:SENX, WSE:SEN) is pleased to announce that it has made the final payment of US$2.7 million, plus accrued interest, on the EBRD Senior Loan Facility.

The details of this Facility are set out in the Company's Half-Year Report and Accounts 2019 released on 14 August 2019. It is now fully repaid and retired.

Commenting, Chief Executive Officer. Jeffrey Auld said "I am delighted that we have made this payment, which puts us on a firmer financial footing as we continue to progress production at our key projects in Romania and Tunisia. We look forward to providing further updates to shareholders over the coming months."

Additionally, the Company announces that the probation period of its Chief Operating Officer has ended, and the contract will not be renewed.

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	[phone]
WH Ireland Limited (Nominated Adviser and Joint Broker) Katy Mitchell Harry Ansell (Broker) Lydia Zychowska	[phone]
Arden Partners plc (Joint Broker) Paul Shackleton / Dan Gee-Summons (Corporate Finance) Fraser Marshall (Equity Sales)	[phone]
Camarco (Financial PR - London) Billy Clegg Owen Roberts	[phone]
TBT i Wspólnicy (Financial PR - Warsaw) Piotr Talarek	[phone]

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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