REG - Serinus Energy PLC - Licence Extension of Satu Mare Concession

Serinus EnergyAnnouncement

31/10/2023 07:00

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RNS Number : 7693R  Serinus Energy PLC  31 October 2023

31 October 2023

 

Press Release

Licence Extension of Satu Mare Concession in Romania

Jersey, Channel Islands, 31 October 2023 -- Serinus Energy plc ("the Company")
is pleased to announce that it has received a licence extension of the Satu
Mare Concession in Romania.

The licence extension is in two phases. The first phase of the extension is
mandatory and is two years in duration starting on 28 October 2023. The work
commitment for the first phase is the reprocessing of 100 kilometres of legacy
2D seismic as well as a 2D seismic acquisition program of 100 kilometres
including processing the acquired seismic data.

The second phase of the licence extension is optional and is two years in
duration starting on 28 October 2025 with a work commitment of drilling one
well within the concession area with no total drilling depth requirement
stipulated.

The Company intends to conduct the 2D acquisition program over a number of the
Company's top prospects to further identify the hydrocarbon potential and to
identify the best prospect to drill the work commitment well.

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                                                   +44 204 541 7859

 Jeffrey Auld, Chief Executive Officer

 Calvin Brackman, Vice President, External Relations & Strategy

 Shore Capital (Nominated Adviser & Broker)                           +44 207 408 4090

 Toby Gibbs

 Lucy Bowden

 Camarco (Financial PR - London)                                      +44 203 781 8334

 Owen Roberts

 RES Consulting (Financial PR - Warsaw)                               +48 602 214 353

 Katarzyna Terej

 

Translation: This news release has been translated into Polish from the
English original.

Forward-looking Statements 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.

 

 

 

 

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