Serinus Energy plc (LON:SENX) has announced that the two-well exploration programme in Romania continues to progress towards commencement of drilling. The roads and drilling platforms at both the Canar-1 well and the Moftinu Nord-1 well have been completed, including the installation of the drilling conductor pipe at both locations. The drilling rig inspection and certifications have been completed and final acceptance and rig mobilization is expected to be completed the week 4-7 July. Permitting for both wells is nearing completion with all permits expected to be granted imminently. Subject to the timely receipt of all permits, the drilling of the Canar-1 well is expected to commence on schedule in mid-July, and once drilling is completed, the rig will move to the Moftinu Nord-1 location and commence drilling.
The Canar-1 well is located 4.0 km to the west of the Moftinu gas plant, while the Moftinu Nord-1 well is located 5.2 km to the northwest of the Moftinu gas plant. With success, production from each well will be connected to the Moftinu gas plant, utilizing current excess plant capacity.
Serinus Energy plc (LON: SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.
Through their large and extensive land base, the Company has identified a significant future opportunity set that provides growth beyond its existing production and development projects.
