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Serinus Energy PLC - Jersey-based oil company focused on Tunisia and Romania - Says the preparations for the drilling programme in Romania are ahead of schedule. The company plans to drill two wells into two separate natural gas prospects, located near the Moftinu gas field and gas plant.
The two prospects to be drilled are the Canar and the Moftinu Nord prospects. Serinus expects to start drilling on the Canar-1 well in late June or early July, located 4 kilometres to the west of the Moftinu gas plant. Then following Canar-1 well's completion, the company expects to drill the Moftinu Nord-1 well, located 5.2 kilometres to the northwest of the same gas plant. The surface works, including access roads and drilling platforms, for both wells are underway and near completion. The company says it is fully funded for its 2022 capital programme in Romania and Tunisia.
Current stock price: up 9.7% at 13.33 pence on Wednesday
12-month change: down 50%
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