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Serinus Energy PLC on Wednesday reported decreased revenue and earnings before interest, tax, depreciation and amortisation in its first quarter. The stock was trading 4.5% lower at 3.20 pence in London on Wednesday afternoon. Serinus, a Romania and Tunisia-focused oil and gas explorer and developer, reported a $894,000 net loss for the three months ended March 31. This was against its $491,000 loss in the first quarter of the prior year. The company also swung to a pretax loss of $703,000 from a $137,000 profit. Ebitda, meanwhile, fell to $47,000 from $925,000. Revenue for the period was $3.2 million, down on-year from $4.6 million. Serinus attributed this to declining production in Tunisia, and the average realised commodity price decreasing to $75.28 per barrel of oil equivalent as of March 31, from $80.24 one year prior. Production in Tunisia totalled 427 boe/d, down from 586 boe/d, while Romanian production rose to 54 boe/d from 49 boe/d. Group production fell to 481 boe/d from 635 boe/d. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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