By Iain Gilbert
Date: Friday 10 Aug 2018
LONDON (ShareCast) - (Sharecast News) - Serinus Energy expects to see gas sales from its Moftinu project in Romania begin in the coming weeks.
While Serinus awaited the completion of a gas processing plant on the site, the group focussed its efforts on finalising a gas sales deal for the site with an unnamed and "internationally recognized gas trader".
In terms of the group's financial performance, Serinus realised an oil price of $71.74 in the second quarter and $68.73 per barrel across the half, a marked improvement against the $47.25 and $49.72 recorded at the same time in 2017.
Serinus' revenue dropped 15.67% during the half to $4.69m, but still managed to narrow its losses 78% year-on-year to $338,000 after receiving $2.6m in insurance payments as a result of a claim made following emergency operations at its Moftinu-1001 well.
The London-listed firm spent a total of $7.4m on Moftinu throughout the first half.
As of 1030 BST, Serinus shares had lost 4.76% to 15p.
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Currency | UK Pounds |
Share Price | 2.90p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 5.65 |
52 Week Low | 1.93 |
Volume | 152,244 |
Shares Issued | 110.80m |
Market Cap | £3.21m |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:06 | 15,510 @ 2.86p |
13:08 | 4,744 @ 2.86p |
11:19 | 81,927 @ 2.84p |
10:41 | 49,563 @ 2.98p |
08:44 | 500 @ 3.00p |
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