Serinus Energy Inc. (“Serinus”, “SEN” or the “Company”) (TSX:SEN, WSE:SEN), is pleased to report that the Moftinu‑1002bis exploration well has commenced drilling.
Moftinu-1002bis is located in the Satu Mare Concession (“Satu Mare”) in northwest Romania and is the second of a two well drilling program by the Company in that concession. The planned total depth is 2,080 metres and the well is expected to take 20 days to drill and is targeting Miocene and Pliocene aged sands at depths between 500 – 1,600 metres. It is on the opposite side of a bounding fault from the recently drilled Moftinu‑1001 well, and will test a separate structural closure.
Both wells are following up on the Moftinu-1000 well drilled in 2012, which tested an aggregate of 1.6 million cubic feet per day from two zones. Moftinu-1000 was drilled prior to the acquisition of 3D seismic over the area, and is located down dip of both the Moftinu- 1001 and 1002bis wells. If successful, Moftinu-1002bis will be completed and tested during Q1 2015, immediately after testing Moftinu-1001.
Satu Mare is a 765,000 acre exploration block, located in northwest Romania which is 60% owned and operated by Winstar Satu Mare SRL, a wholly-owned subsidiary of Serinus. The other 40% is owned by a subsidiary of KMG International, a company with a wide variety of interests in the Romanian energy sector.