Serinus Energy plc (LON:SENX) CEO Jeffrey Auld joins DirectorsTalk to discuss the successful raise of $21m. Jeffrey explains what the proceeds will be used for, provides further details around the EBRD deal terms, what this means for the company and how it now affects the longer term plans for the company.
Serinus Energy is a low-cost onshore oil and gas producer with producing assets in Romania and Tunisia. The current management has worked to reduce the per barrel of oil equivalent cost base from USD22.81/boe in 2016 to USD8.96/boe in the nine months to 30 September of 2020.
The Company has increased annual average production from 379 boe/d in 2017 to 2,415 boe/d in the nine months to 30 September 2020.