Serinus gets nod for Romanian evaluation plan
London-listed Serinus Energy has secured approval from Romania's national agency for mineral resources for an extra two years to evaluate the Satu Mare concession in the country's northwest, the company said in a stock filing on October 21.
Between October this year and October next, Serinus will be required to reprocess 160.9 km of 2D seismic in the Madaras areas at an estimated cost of $100,000. The following year it will have to reprocess 30.05 km of 2D seismic in the Santau-Nusfalau area at a cost of $500,000.
The company said the extra time would enable it "to continue its pursuit to prove up the significant potential within the Satu Mare concession," and develop new gas fields to add to its production.