Jersey, Channel Islands, January 10, 2020 — Serinus Energy plc (“Serinus”, “SEN” or the “Company”) (AIM:SENX, WSE:SEN), is pleased to announce that the Moftinu – 1004 well has been spudded today in Romania.
This well is located approximately 900 metres to the east of the Moftinu Gas Plant. The planned total drilling depth of the well is 1,000 metres.
The well is expected to penetrate four gas-bearing sand formations, two of which are producing zones of the Moftinu – 1003 and Moftinu – 1007 wells.
If the well drilling operations are successful, the well will be completed, tested and brought on production through a flowline to the Moftinu Gas Plant. Further updates will be provided, as appropriate.
Competent Persons Statement
In accordance with the AIM Rules for Companies, the technical information contained in this announcement has been reviewed and approved by Mrs. Alexandra Damascan, President of Serinus Energy Romania. Mrs. Damascan is a qualified person as defined in the London Stock Exchange’s Guidance Note for Mining and Oil and Gas Companies and is authorized by the Romanian National Agency for Mineral Resources (NAMR) as a specialist with professional and technical competencies to conduct petroleum operations. Mrs. Damascan has a Bachelor’s degree in Petroleum Engineering from the University of Oil and Gas in Ploieşti, Romania, and a Master’s degree in Oil and Gas Business Administration, specialized in oil, gas, and mining from the same university. She has over 11 years of oil and gas exploration and development experience.
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)
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