Gas Sales Agreement Signed in Romania
December 24 2018 - 2:00AM
Serinus Energy plc (“
Serinus”,
“
SEN” or the “
Company”)
(AIM:SENX, WSE:SEN), is pleased to announce that Serinus Energy
Romania S.A. (the Company’s wholly-owned subsidiary) has signed a
Gas Sales Agreement (the “Agreement”) with Vitol Gas and Power BV
for the quantities of its forthcoming gas production, which are not
required to be sold on a centralised market, from the Moftinu Gas
Project in Romania. The term of this agreement will be from the
start of production until the end of the following gas year (this
being from October to the end of September of a given year and
represents Transgaz annual pipeline capacity booking season), with
the option to extend after that time. The Agreement calls for the
gas pricing linked to an average of transactions concluded on the
centralized markets of Romania. The Agreement also provides the
Company with flexibility in nominating quantities for each delivery
month, which is especially important for the commissioning period
of the Moftinu gas plant and for meeting the Company’s legislated
market obligations to sell the remaining quantities directly into
the centralized markets of Romania. There are two established gas
trading markets in Romania where the Company is a member and
through which it will sell its remaining production in the open
market, once production has commenced.
About SerinusSerinus is an
international upstream oil and gas exploration and production
company that owns and operates projects in Tunisia and Romania.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
For further information, please refer to
the Serinus website (www.serinusenergy.com) or contact the
following:
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Serinus Energy plc Jeffrey Auld, Chief
Executive Officer Calvin Brackman, Vice President, External
Relations & Strategy |
+1-403-264-8877 |
|
|
Numis Securities Limited(Nominated Adviser and
Joint Broker) John Prior Paul Gillam Ben Stoop |
+44 (0) 20
7260 1000 |
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GMP
FirstEnergy(Joint Broker) Hugh Sanderson Jonathan
Wright |
+44 (0) 20
7448 0200 |
|
|
Camarco(Financial PR) Billy Clegg Owen
Roberts |
+44 (0) 20
3781 8334 |
|
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TBT
i Wspólnicy(Financial PR - Warsaw)Piotr Talarek |
+48 22 487
53 02 |
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|
Forward Looking Statement DisclaimerThis 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.
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