Serinus Energy PLC Moftinu--1008 Well Spudded (9354L)
January 18 2021 - 1:00AM
UK Regulatory
TIDMSENX
RNS Number : 9354L
Serinus Energy PLC
18 January 2021
18 January 2021
Press Release
Moftinu-1008 Well Spudded
Jersey, Channel Islands, 18 January 2021 -- Serinus Energy plc
("Serinus" or the "Company") (AIM:SENX, WSE:SEN), is pleased to
announce that the Moftinu-1008 well was spudded in Romania on 16
January 2021.
Moftinu-1008 is planned to be drilled to a total depth of 1,000
metres and is expected to penetrate five gas-bearing sand
formations, three of which are producing zones of the Moftinu-1007
well. Moftinu-1008 is located approximately 1.4 kilometres to the
northeast of the Moftinu Gas Plant and if drilling is successful,
the well will be completed, tested and brought on-production
through a flowline connection to the Moftinu Gas Plant.
The Company and its contractors have worked diligently to ensure
that proper protocols are in place to deal with the uncertainty
regarding the COVID-19 pandemic and Serinus remains confident the
well can be drilled while maintaining safe protocols for all
employees and contractors during the drilling programme.
Competent Persons Statement
In accordance with the AIM Rules for Companies, the technical
information contained in this announcement has been reviewed and
approved by Mr. Andrew O'Donovan, Chief Operating Officer of
Serinus Energy plc. Mr. O'Donovan is a qualified person as defined
in the London Stock Exchange's Guidance Note for Mining and Oil and
Gas Companies and is a specialist with professional and technical
competencies to conduct petroleum operations. Mr. O'Donovan has
thirty two years of operational experience both as an exploration
geophysicist and as a petroleum engineer. Mr. O'Donovan began his
career as a geophysicist with BP plc.
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 +4 4 208 054 2859
A rden Partners plc (Nominated Adviser &
Joint Broker)
Paul Shackleton / Dan Gee-Summons (Corporate
Finance)
Tim Dainton (Equity Sales) +44 207 614 5900
Shore Capital Stockbrokers Limited (Joint
Broker)
Toby Gibbs / John More (Corporate Advisory)
Jerry Keen (Corporate Broking) +44 207 408 4090
Camarco (Financial PR - London)
Billy Clegg
Owen Roberts +44 203 781 8334
TBT i Wspólnicy (Financial PR - Warsaw)
Katarzyna Terej +48 602 214 353
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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