Gas Production Commences At Moftinu
26 Aprile 2019 - 8:00AM
Serinus Energy plc (“
Serinus”,
“
SEN” or the “
Company”)
(AIM:SENX, WSE:SEN), is pleased to announce that production has
commenced at the Moftinu Gas Plant in Romania.
Gas from the Moftinu 1003 production well has
been flowed through the gas plant into the sales gas pipeline. The
processed gas meets the water dew point and hydrocarbon dew point
specifications set by the Romanian National Gas Transportation
Company, Transgaz.
The Company will follow a conventional start-up
program whereby production parameters and plant performance will be
stabilized, after which gas from the Moftinu 1007 well will also be
brought onto production and flowed through the gas plant.
During the start-up and stabilization period gas will be sold
on a daily basis. Following the start-up period, and once gas
volumes are more regular, gas will be sold on a monthly basis as
per the previously announced Gas Sales Agreement.
Serinus CEO Jeffrey Auld commented: “This is an
extremely important milestone for Serinus. Gas production, plant
operation and the resulting sales of processed gas will be
transformative for Serinus and the Moftinu region. The Company is
proud of the efforts that its staff and the team at our Romanian
EPC Contractor have put into this project to achieve this
milestone.”
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 OfficerCalvin Brackman, Vice President, External
Relations & Strategy |
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+1-403-264-8877 |
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Numis Securities Limited
(Nominated Adviser and Joint Broker)John PriorPaul GillamBen
Stoop |
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+44 (0) 20 7260 1000 |
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GMP FirstEnergy(Joint
Broker)Hugh SandersonJonathan Wright |
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+44 (0) 20 7448 0200 |
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Camarco(Financial PR)Billy
CleggOwen Roberts |
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+44 (0) 20 3781 8334 |
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TBT i Wspólnicy (Financial
PR - Warsaw)Piotr Talarek |
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+48 22 487 53
02 |
Forward Looking Statement
DisclaimerThis news release includes forward looking
information and statements within the meaning of securities laws.
Such statements relate to the Corporation’s or management’s
objectives, projections, estimates, expectations, or predictions of
the future and can be identified by words such as “plans”,
“assumes”, “will”, “anticipate” and “may” or variations of such
words. These statements are based on certain assumptions and
analyses by the Corporation that reflect its experience and
understanding of future developments. Such statements are subject
to a number of uncertainties, including, but not limited to,
continued listing on the Warsaw Stock Exchange and AIM, the
Corporation’s ability to realize the anticipated benefits of the
delisting and other factors identified in the Corporation’s filings
with regulatory authorities in Canada. Many of these uncertainties
are beyond the Corporation’s control and, therefore, may cause
actual actions or results to differ from those expressed or implied
herein. The Corporation disclaims any intention or obligation to
update or revise any forward looking statements, whether as a
result of new information, future events or otherwise, unless
required by law.
Translation: This news release has been
translated into Polish from the English original.
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