Serinus Energy PLC Approval of New Evaluation Phase in Romania (7263P)
21 Octubre 2021 - 01:00AM
UK Regulatory
TIDMSENX
RNS Number : 7263P
Serinus Energy PLC
21 October 2021
21 October 2021
Press Release
Approval of New Evaluation Phase in Romania
Jersey, Channel Islands, 21 October 2021 -- Serinus Energy plc
("Serinus" or the "Company") (AIM:SENX, WSE:SEN) announces that it
has received approval from the National Agency for Mineral
Resources ("NAMR") for an additional two-year evaluation phase on
the Satu Mare Concession in Romania. As previously stated, the
third exploration phase was extended by one-year to 27 October 2021
due to the Romanian state of emergency implemented during the
pandemic. Subsequently, the Company has completed all commitments
under the third exploration phase. The new evaluation period will
be from 28 October 2021 to 27 October 2023. The Company has agreed
to the following work commitments over the term of this evaluation
period:
-- Phase 1: from 28 Oct 2021 to 27 Oct 2022 the Company is
required to reprocess 160.9 km 2D seismic in the Madaras area at an
estimated total cost of US$100,000; and
-- Phase 2: from 28 Oct 2022 to 27 Oct 2023 the Company is
required to reprocess 30.05 km of 2D seismic in the Santau-Nusfalau
area at estimated total cost of US$50,000.
The Company is very pleased to have received approval for this
new evaluation phase as the Company will continue its pursuit to
prove up the significant potential within the Satu Mare Concession
Area and the development of new gas fields to grow the Company's
production.
About Serinus
Serinus is an international upstream oil and gas exploration and
production company that owns and operates projects in Tunisia and
Romania.
For further information, please refer to the Serinus website
(www.serinusenergy.com) or contact the following:
Serinus Energy plc
Jeffrey Auld, Chief Executive Officer
Andrew Fairclough, Chief Financial Officer
Calvin Brackman, Vice President, External
Relations & Strategy +4 4 204 541 7859
A rden Partners plc (Nominated Adviser &
Joint Broker)
Paul Shackleton (Corporate Finance)
Tim Dainton (Equity Sales) +44 207 614 5900
Shore Capital Stockbrokers Limited (Joint
Broker)
Toby Gibbs / John More (Corporate Advisory)
Jerry Keen (Corporate Broking) +44 207 408 4090
Camarco (Financial PR - London)
Owen Roberts
Phoebe Pugh +44 203 781 8334
TBT i Wspólnicy (Financial PR - Warsaw)
Katarzyna Terej +48 602 214 353
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.
Translation : This news release has been translated into Polish
from the English original.
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