Serinus Energy Starts Drilling of Canar-1 Well

Source: www.gulfoilandgas.com 8/4/2022, Location: Europe

Serinus Energy plc ("Serinus") (SEN), is pleased to announce that the drilling of the Canar-1 exploration well in Romania commenced.

The Canar-1 well will be drilled to a depth of 1,600 metres, targeting three prospective hydrocarbon zones. The Canar prospect is located on the northern flank of the Carei Basin, approximately four kilometres to the west of the Company's Moftinu Gas Plant. The Canar-1 exploration well is seeking to discover further hydrocarbons on the migration path from the Carei Basin source kitchen. With success, production from this well will be connected to the Moftinu Gas Plant, utilizing existing plant capacity.

Competent Persons Statement

In accordance with the AIM Rules for Companies, the technical information contained in this announcement has been reviewed and approved by Mr. Stuart Morrison, Chief Operating Officer of Serinus Energy plc. Mr. Morrison is a qualified person as defined in the London Stock Exchange's Guidance Note for Mining and Oil and Gas Companies and has the necessary professional and technical competencies to conduct petroleum operations. Mr. Morrison has a Bachelor of Science (First Class Honours) Degree in Chemical Engineering and a Master of Engineering Degree in Petroleum Engineering, both from Heriot-Watt University, Edinburgh. Mr. Morrison has over 34 years of oil and gas industry operational experience in numerous senior management roles.


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