Serinus Energy finds gas pay at Romanian confirmation well

CALGARY -- Serinus Energy announced drilling at its Moftinu 1007 well has concluded, achieving a TD of 1,463 m.

Log analysis at the Romanian operation have identified three gas-bearing Pliocene zones. The A3 sand formation was intersected from 736 m to 738 m, the A2 from 809 m to 813 m, and the A1 from 883 m to 898 m. These are the same sand zones as were perforated and tested in the Moftinu 1001 well. These zones will be perforated and tested during the current completion and testing operations on the Moftinu 1007 well.

It is expected that the completion and testing operations will last approximately two weeks. The company has allowed additional testing time to allow sufficient pressure build-up of the producing zones. The flowline to move gas from the Moftinu 1007 site to the Moftinu Gas Plant is under construction.

The construction of the Moftinu gas plant is proceeding. The fiscal metering skid installation has reached the final stage and the company has engaged the operatorship transfer process of the sales gas line to Transgaz and for Transgaz to proceed with the hot tap connection of the sales gas line to the Transgaz national gas transmission line. The company expects to begin the pre-commissioning and commissioning of the gas plant with first gas from Moftinu 1000, in late June. Gas from Moftinu 1007 will be added to the commissioning process in mid-July.