Serinus Energy plc

Equities

SENX

JE00BNNMKT29

Oil & Gas Exploration and Production

Market Closed - London S.E. Other stock markets 11:35:06 2024-04-26 am EDT			5-day change	1st Jan Change
3.05 ^GBX	0.00%		0.00%	+22.00%

Mar. 18	Serinus swings to loss on impairment charges; revenue plunges	AN
Mar. 18	North American Morning Briefing : Investors -2-	DJ

Serinus swings to loss on impairment charges; revenue plunges

March 18, 2024 at 09:52 am EDT

(Alliance News) - Serinus Energy PLC on Monday said a Romanian asset impairment hurt its 2023 results.

Shares in Serinus dropped 10% to 2.20 pence each in London on Monday afternoon.

The Romania and Tunisia-focused oil and gas exploration, appraisal and development company reported that it swung to a pretax net loss of USD11.4 million in 2023 from a net income of USD4.8 million the year prior, due to an impairment expense of USD7.0 million from its Romanian assets relating to the depletion of the Moftinu gas field.

The firm also saw its annual revenue plunge by 64% to USD17.9 million in 2023 from USD49.3 million the year before.

Earnings before interest, tax, depreciation and amortisation fell by 83% to USD2.1 million USD12.7 million in 2022.

Looking ahead, Serinus said it will focus on developing its Tunisian operations and enhancing production.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
BRENT CRUDE OIL SPOT	88.07 USD	+0.10%	+1.75%	-
WTI	83.53 USD	0.00%	+1.68%	-
SERINUS ENERGY PLC	3.05 GBX	0.00%	0.00%	4.26M

Latest news about Serinus Energy plc

Serinus swings to loss on impairment charges; revenue plunges	Mar. 18	AN
North American Morning Briefing : Investors -2-	Mar. 18	DJ
Transcript : Serinus Energy plc, 2023 Earnings Call, Mar 18, 2024	Mar. 18
Serinus Energy plc Reports Production Results for the Year Ended December 31, 2023	Mar. 18	CI
Earnings Flash (SENX.L) SERINUS ENERGY Reports FY23 Loss $-0.11	Mar. 18	MT
Serinus Energy plc Reports Earnings Results for the Full Year Ended December 31, 2023	Mar. 18	CI
Serinus Energy up after receiving "preferred bidder" status at Kwanza	Jan. 23	AN
Serinus Energy Wins Preferred Bidder Status for Oil Block in Angola; Shares Jump	Jan. 23	MT
North American Morning Briefing : Stock Futures -2-	Nov. 27	DJ
Transcript : Serinus Energy plc, Q3 2023 Earnings Call, Nov 27, 2023	Nov. 27
Serinus Energy plc Reports Production Results for the Nine Months Ended September 30, 2023	Nov. 27	CI
Serinus Energy plc Reports Earnings Results for the Nine Months Ended September 30, 2023	Nov. 27	CI
Zotefams wins Nike deal; Serinus in licence extension	23-10-31	AN
Serinus Energy Secures Extension to Satu Mare Concession License in Romania	23-10-31	MT
FTSE 100 Closes Modestly Lower on Asia Caution	23-09-04	DJ
British Land Shares Lack Drivers as City Valuations Dip	23-09-04	DJ
Serinus promotes Financial Controller Vlad Ryabov to CFO	23-09-04	AN
Serinus Energy Names New Finance Chief	23-09-04	MT
Serinus Energy plc Appoints Vlad Ryabov as Chief Financial Officer	23-09-04	CI
FTSE 100 Closes Down 0.2% Dragged by Oil, Miner Stocks	23-08-14	DJ
Sterling Could Fall as Dollar Strengthens	23-08-14	DJ
Transcript : Serinus Energy plc, H1 2023 Earnings Call, Aug 14, 2023	23-08-14
Serinus Energy swings to loss as production and prices fall	23-08-14	AN
Earnings Flash (SENX.L) SERINUS ENERGY Reports H1 Revenue $8.9M	23-08-14	MT
Earnings Flash (SENX.L) SERINUS ENERGY Reports H1 Loss $-0.03	23-08-14	MT

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Company Profile

Serinus Energy PLC is an international oil company. The Company is engaged in the exploration and development of oil and gas properties in Tunisia and Romania. Its Satu Mare Concession is one of the exploration blocks in Romania, lying on a prolific oil and gas trend in the Eastern Pannonian Basin. It holds three Tunisia concessions that comprise a diverse portfolio of development and exploration assets. Its three Tunisia concessions include Sabria, Chouech Es Saida and Ech Chouech. The Company holds 45% working interest in Sabria concession, which covers over 26,195 gross acres. The Sabria concession comprises a large Ordovician light oil field. It holds 100% working interest in Chouech Es Saida concession, which covers approximately 52,480 acres. The concession produced approximately 9.8 million barrels-of-oil-equivalent. It holds a 100% working interest in Ech Chouech concession, which covers over 33,920 acres. The concession has produced oil intermittently from the TAGI Formation.

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Oil & Gas Exploration and Production

Calendar

2024-05-10 - Annual General Meeting

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