Serinus Energy - Sabria Field in Tunisia Returns to Production
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 07/27/15 -- Serinus Energy Inc. ("Serinus", "SEN" or the "Company") (TSX: SEN) (WARSAW: SEN) is pleased to announce that production has resumed at the Sabria Field in Tunisia.
Resumption of Production at Sabria
As previously reported in the Company's press release of June 1, 2015, the Sabria Field in central Tunisia was shut in due to local protests. These protests were against the lack of development, investment and job creation in the area, and not directed at the Company. Operating staff were able to safely shut-in the wells and the Central Operating Facility ("CPF"). Prior to the shut-down, the Sabria Field was producing approximately 700 boe/d (SEN WI), or 1,550 boe/d (gross). The protests were orderly and there have been no incidents.
Since that time, there has been a series of discussions involving local and central government officials, the protestors, Entreprise Tunisienne d'Activites Petrolieres ("ETAP"), the state owned oil company, and Company executives. The result is that the government has committed to several initiatives to increase employment and development in the Governate of Kebeli where the Sabria Field is located.
The Company is pleased to report that the CPF is operating and the wells have been restarted. Management expects that it will take several days for production rates to stabilize, but early indications are that the field will return to pre-shut-in levels.
Jock Graham, Executive Vice President and Chief Operating Officer of Serinus said "We are very pleased that production has re-started at Sabria, particularly since it was done with the involvement and cooperation of the government, ETAP, other operators in the area and local community representatives. Sabria is stabilizing at rates similar to pre-shut-in levels, and we can now get back to the business of increasing production and recoverable reserves from this underdeveloped asset."
Serinus, through its wholly owned subsidiary Winstar Tunisia B.V., holds a 45% working interest in Sabria and is the operator, with the remaining 55% held by ETAP.
Abbreviations
Cautionary Statement:
BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Test results are not necessarily indicative of long-term performance or of ultimate recovery. The test data contained herein is considered preliminary until full pressure transient analysis is complete.
About Serinus
Serinus is an international upstream oil and gas exploration and production company that owns and operates projects in Ukraine, Tunisia, and Romania.
For further information, please refer to the Serinus website ().
Translation: This news release has been translated into Polish from the English original.
Forward-looking Statements 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.
Note: Serinus reports in US dollars. All dollar amounts referred to herein are in USD, unless specifically noted otherwise.
Contacts:
Serinus Energy Inc. - Canada
Norman W. Holton
Vice Chairman
+1-403-264-8877
Serinus Energy Inc. - Canada
Gregory M. Chornoboy
Director - Capital Markets & Corporate Development
+1-403-264-8877
Serinus Energy Inc. - Poland
Jakub J. Korczak
Vice President Investor Relations & Managing Director CEE
+48 22 414 21 00
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 27.07.2015 - 09:46 Uhr
Sprache: Deutsch
News-ID 409175
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Oil & Gas
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