Following on from the release of interim results from Serinus Energy plc (LON:SENX) for the three months ended 31 March 2021. DirectorsTalk caught up with Dan Slater, Analyst at Arden Partners for his thoughts.
Q. Dan, Serinus Energy has now published its Q1 2021 results, how did they perform?
A. The results showed solid OCF generation, which was then redeployed into the company’s asset work programmes, principally drilling of the M-1008 production well. Production benefitted from this well, which helped counteract natural decline and reservoir management actions at Moftinu.
Q. What should investors be looking out for in terms of newsflow?
A. There is the Sancrai exploration well in Romania spudding around mid-year and reporting in Q3, the commencement of the Moftinu compression works, installation of the first ESP at Sabria and the H1 results in August. This provides a good spread of drilling and other work programme driven news alongside production and financial results.
Q. How do you see the outlook for the company?
A. The work programme continues to progress, and we expect this to help support production and provide growth later in the year. This all helps with cash flows, which are then redeployed into further work programme, helping build out the production capability of the company’s asset base.
