Serinus Energy plc (LON:SENX, WSE:SEN), announced this week its interim results for the nine months ended 30th September 2022.
DirectorsTalk Interviews caught up with Daniel Slater, Analyst at Arden Partners to discuss the news.
Q. Daniel, Serinus Energy has published its results nine months ended 30 September 2022, what were the key takes aways?
The results showed another period of strong cash flows for the company, boosted by continuing strong oil and gas prices and a number of judicious cost efficiencies. This continues to provide significant funding capability for the company’s ongoing, production focused work programme.
Q. How did the company progress operationally?
Serinus has recently made important progress in securing a rig for its upcoming Tunisia work programme, and this is expected to mobilise before the end of 2022. This will allow the company to carry out workovers on two non-producing wells in Tunisia, targeting additional production volumes from known accumulations with typically low decline rates, all during a time of high oil and gas prices.
Q. How do you see the outlook for the company?
During the coming months we expect execution of Serinus’ Tunisia workovers programme. This could then potentially be followed by new drilling in Romania, and further Tunisia activities, later in the year. This should make for a full 2023 news flow schedule.