Serinus Energy Share Discussion Threads

[ken chung] 29/6/2022 15:54

Sadly when they perforated the last Romanian well, they couldn't even get a gas reading, the levels were so low so it was a failure. Elsewhere the Romanian wells are rapidly declining and suffering increased water ingress. A continued decline in production, and/or an eventual decline in the oil price again, and they will be losing money just like before.Just looks like another lifestyle company to me.Lemmings and mushrooms only.

[badger60] 29/6/2022 15:28

Let's wait and see what comes from these latest drills. Auld is making a big song and dance about it on RNS, but it's all about what he can get out of the ground, and how much is there cost Vs revenue wise.It can't be any worse than it has been for the last 18 months......I hope! Are you listening Auld????

[trader4ever] 29/6/2022 13:33

Its funny, People are saying onwards and upwards for the last three years, but it keeps going downhill all due to incompetent management of this company. This management team a is complete failure.
No RNS in the last three years have made any positive improvement in the share holder value, Every one knows JA is a liar and not a trustworthy person. He is not even able to earn 65k per year based on his competency let alone 650k. It is absolute disaster, I wonder who approved their salary levels ?. Most of the management should be sacked immediately.

[idriveajag] 29/6/2022 12:16

SENX about to start drilling for gas onshore Romania:Serinus Energy PLC29 June 2022Romania Drilling Programme UpdateJersey, Channel Islands, 29 June 2022 -- Serinus Energy plc ("Serinus" or the "Company") ( AIM:SENX, WSE:SEN) is pleased to announce that the two-well exploration programme in Romania continues to progress towards commencement of drilling. The roads and drilling platforms at both the Canar-1 well and the Moftinu Nord-1 well have been completed, including the installation of the drilling conductor pipe at both locations. The drilling rig inspection and certifications have been completed and final acceptance and rig mobilization is expected to be completed the week 4-7 July. Permitting for both wells is nearing completion with all permits expected to be granted imminently. Subject to the timely receipt of all permits, the drilling of the Canar-1 well is expected to commence on schedule in mid-July, and once drilling is completed, the rig will move to the Moftinu Nord-1 location and commence drilling.The Canar-1 well is located 4.0 km to the west of the Moftinu gas plant, while the Moftinu Nord-1 well is located 5.2 km to the northwest of the Moftinu gas plant. With success, production from each well will be connected to the Moftinu gas plant, utilizing current excess plant capacity.

[patio58] 29/6/2022 08:04

Great RNS! Another piece of the jigsaw, onwards and upwards.

[the chairman elect] 29/6/2022 07:53

Romania Drilling Programme Update

Jersey, Channel Islands, 29 June 2022 -- Serinus Energy plc ("Serinus" or the "Company") ( AIM:SENX, WSE:SEN) is pleased to announce that the two-well exploration programme in Romania continues to progress towards commencement of drilling. The roads and drilling platforms at both the Canar-1 well and the Moftinu Nord-1 well have been completed, including the installation of the drilling conductor pipe at both locations. The drilling rig inspection and certifications have been completed and final acceptance and rig mobilization is expected to be completed the week 4-7 July. Permitting for both wells is nearing completion with all permits expected to be granted imminently. Subject to the timely receipt of all permits, the drilling of the Canar-1 well is expected to commence on schedule in mid-July, and once drilling is completed, the rig will move to the Moftinu Nord-1 location and commence drilling.

The Canar-1 well is located 4.0 km to the west of the Moftinu gas plant, while the Moftinu Nord-1 well is located 5.2 km to the northwest of the Moftinu gas plant. With success, production from each well will be connected to the Moftinu gas plant, utilizing current excess plant capacity.

[badger60] 29/6/2022 06:56

You tend to get the feeling that by the time they've spent money on drilling, development costs etc.etc.......that there's not enough in it to justify the expenditure..........+ Aulds 650 k pa....and the other senior management who are generous when it comes to paying themselves a salary.

[trader4ever] 28/6/2022 16:30

Management of this company certainly does not have any shame and self respect. otherwise we would have had some resignations.

[trader4ever] 27/6/2022 17:25

Share consolidation has been a disaster and Auld has done his best to destroy this company. He is the most incompetent member of the management.

[bbm_144] 24/6/2022 16:36

Very few trades recently days, gone very quiet. Have a good weekend all.

[trader4ever] 23/6/2022 09:30

No one trust Auld anymore or his promises / comments. He has been lying for long time, people have realized that now.

[badger60] 21/6/2022 03:44

I think as far as Auld is concerned, you don't believe it until its happened regardless of what he says. Auld is probably not buying shares as he doesn't want to lose money.

[tnt99] 20/6/2022 07:51

Yes I agree the directors should all buy shares to show confidence in the future the 1 for 10 was a disaster Needs to get back to at least 20p

[trader4ever] 15/6/2022 12:17

JA does not have the ability to run this company. I don't think he has any meaningful credentials to prove his skills and competencies. He is just enjoying AIM casino and free salary without any delivery. Worst thing is that no one is taking any action to remove him.

[badger60] 15/6/2022 10:28

BBM144Yep....why isn't Auld backing up his upbeat RNS with a meaningful sharepuchase? Paying himself650k a year for doing very little ....why bother buying shares?

[bbm_144] 15/6/2022 08:22

What would be most welcome now is some good sized director buying, no reason why Auld can't buy £25K worth at these levels.

[david56920] 13/6/2022 14:24

Ken changed what a load of BS

[badger60] 13/6/2022 12:01

Officer Digby
Exactly!......Is there anything there......and if, so how much?
In the meantime I assume that existing production/reserves are still in decline.

[ken chung] 13/6/2022 11:53

Sadly when they perforated it, which is what really matters, they couldn't even get a gas reading, the levels were so low. Elsewhere the Romanian wells are rapidly declining and suffering increased water ingress. A continued decline in production, or an eventual decline in the oil price again, and they will be losing money.Just looks like another lifestyle company to me.Lemmings and mushrooms only.

[idriveajag] 13/6/2022 11:38

What makes you think they are not, especially when that well produced high total gas readings during drilling and directors have continued to buy shares.

[officerdigby] 13/6/2022 10:49

Explain dropping of Romanian production.Q1 2022. 610Q3 2021. 1242Q1 2021. 1485What is going on? What makes these new well better prospects than recent dry well?Thanks.

[the chairman elect] 13/6/2022 10:40

Yes agree idriveajag potentially exciting times @ SENX

[idriveajag] 13/6/2022 09:10

What's not to like.SENX now profitable and has cash. Recent director share purchases. Fully funded 2 or 3 well onshore drilling program in Romania for gas to commence end of this month.