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Serinus Energy generates $15m in gross revenue

Thu, 14th Nov 2019

Serinus Energy has generated $15.5m in gross revenue for the nine months to September 30. According to the group's third quarter results, $9.8mof the revenue was generated in Romania and $5.7min Tunisia. On September 13, the group made the final payment towards the Senior loan in the amount of $2.8m, which included $0.1m of interest. Cash flows from operating activities increased to $5.6m for the period, this is compared to cash used in operating activities of $3.2m in the same period of 2018, an increase of $8.8m year over year. Serinus Energy has begun construction of the platform for the Moftinu-1004 production well in Romania. The Moftinu-1004 production well is permitted and, subject to rig availability, is expected to be spudded in January 2020. At 8:30am: (LON:SENX) Serinus Energy Plc Ord Npv share price was +0.15p at 9.65p Story provided by StockMarketWire.com

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