Serinus Energy ‘continues to have a strong production profile’ say Arden

Oil and Gas
[shareaholic app="share_buttons" id_name="post_below_content"]

Serinus Energy plc (LON:SENX) is the topic of conversation when we caught up with Arden Partners analyst Daniel Slater.

Daniel you’ve just published a note on Serinus Energy regarding a EBRD debt repayment deferral, why is this important for the company?

The repayment deferral helps preserve short term liquidity for the company during the current lower oil and gas price environment, and should mean more cash is available for asset work programmes in the medium term. Additionally, it highlights the ongoing process to restructure the EBRD debt, which could reduce payments and further increase the cash available for new work programmes aimed at the upside potential in assets across the portfolio.


Has this meant that your forecasts have been altered?

We had already allowed for a reduced payment in June, so our forecasts are unchanged.


How do you view the outlook for the company?

Serinus Energy continues to have a strong production profile, and ongoing oil and gas prices coupled with the EBRD restructuring will condition the quantity of cash available to get after the upside on the company’s assets. This includes the potential for more production wells at Moftinu, the planned 3D seismic and potential exploration drilling on Satu Mare, and numerous production enhancement projects in Tunisia. In our view, being able to pursue these work programmes as soon as possible is key for Serinus.

Twitter
LinkedIn
Facebook
Email
Reddit
Telegram
WhatsApp
Pocket
Find more news, interviews, share price & company profile here for:
    Serinus Energy plc (LON:SENX) released its Q1 2024 Interim Financial Results, highlighting key financial and operational updates.
    Serinus Energy plc (LON:SENX) has announced its 2023 Annual Financial Results, revealing key financial and operational highlights.
    Serinus Energy plc has been selected as the preferred bidder on the KON-13 block in the onshore Kwanza basin in Angola, a promising hydrocarbon basin.

    Search

    Search