Processing Units in Transit to Romania
JERSEY, Channel Islands, Jan. 16, 2019 (GLOBE NEWSWIRE) — Serinus Energy plc (“Serinus”, “SEN” or the “Company”) (AIM:SENX, WSE:SEN), announces that the Company has confirmed that the Low Temperature Separation (“LTS”) unit and the Triethylene Glycol (“TEG”) unit (together, the “Units”) due for installation at its Moftinu gas plant in Romania have been loaded onto a freighter and have departed from Halifax, Canada, to Bremerhaven, Germany. Subject to weather in the Atlantic during shipment, the Units are expected to arrive in port approximately 6 to 10 days after departure. The Units will then be trucked to the Moftinu site in Romania for final assembly, testing and commissioning.
The Company has worked closely with Confind, the Romanian EPC contractor, to remedy the failure of both the engineering design contractor and the fabrication sub-contractor to honour their contractual obligations. It is the Company’s focus to ensure that the final assembly, testing and commission is conducted as expeditiously as possible. The Company will inform the market of the production start-up date once the delivery, installation and commissioning of the units has been achieved.
Serinus is an international upstream oil and gas exploration and production company that owns and operates projects in Tunisia and Romania.
For further information, please refer to the Serinus website (www.serinusenergy.com) or contact the following:
|Serinus Energy plc
Jeffrey Auld, Chief Executive Officer
Calvin Brackman, Vice President, External Relations & Strategy
|Numis Securities Limited
(Nominated Adviser and Joint Broker)
|+44 (0) 20 7260 1000|
|+44 (0) 20 7448 0200|
|+44 (0) 20 3781 8334|
|TBT i Wspólnicy
(Financial PR – Warsaw)
|+48 22 487 53 02|
Forward Looking Statement Disclaimer
This news release includes forward looking information and statements within the meaning of securities laws. Such statements relate to the Corporation’s or management’s objectives, projections, estimates, expectations, or predictions of the future and can be identified by words such as “plans”, “assumes”, “will”, “anticipate” and “may” or variations of such words. These statements are based on certain assumptions and analyses by the Corporation that reflect its experience and understanding of future developments. Such statements are subject to a number of uncertainties, including, but not limited to, continued listing on the Warsaw Stock Exchange and AIM, the Corporation’s ability to realize the anticipated benefits of the delisting and other factors identified in the Corporation’s filings with regulatory authorities in Canada. Many of these uncertainties are beyond the Corporation’s control and, therefore, may cause actual actions or results to differ from those expressed or implied herein. The Corporation disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, unless required by law.
Translation: This news release has been translated into Polish from the English original.