1st Jul 2019 12:17
(Alliance News) - Serinus Energy PLC is making good progress, it said Monday, with performance in Romania exceeding its own expectations.
Serinus is currently commissioning the Moftinu gas plant, and as of Sunday the daily production rate was 10.3 million standard cubic feet of gas per day.
Condensate production has been above expectations, Serinus added, while "minimal" water production has met expectations.
Both the Moftinu 1003 and Moftinu 1007 wells are stable and meeting expectations. Gas from the two is being sold under an existing gas sales agreement with Vitol.
In Tunisia, Serinus is progressing as expected with the reopening of the Chouech Es Saida field, with the workover of the CS-3 well starting on Thursday last week. This will take around two weeks, and once done the well will be brought into production.
Serinus will then workover three other wells, and it wants all four wells on production by the end of August.
Shares were untraded in London on Monday, last quoted at 12.00 pence each.
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