SERINUS ENERGY PLC The well was drilled five days ahead of schedule and approximately 19% below budget, Serinus said in a press release.
The company will now proceed to perforate and test the Pliocene sand zone prior to completing the well for future production.
The close proximity of the Sancrai - 1 well to the Moftinu Gas Plant provides the company with the option to bring this well onto commercial production while drilling additional appraisal development wells into the structure in order to fully delineate the gas field, the company added.
Serinus is an international upstream oil and gas exploration and production company with a diversified portfolio of projects in
The Moftinu gas field, discovered by Serinus in 2014, is the catalyst for future, self-funded, growth in the Satu Mare concession, the company says.
About Serinus
Serinus is an international upstream oil and gas exploration and production company that owns and operates projects in
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Forward Looking Statement Disclaimer
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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