Serinus Energy plc announces the flow-test results of the Moftinu – 1007 well. As previously announced, the Moftinu – 1007 well was drilled to 1,463 metres and intersected the A1 (883m to 898m), A2 (809m to 813m), and A3 (736m to 738m) sand formations.

After completing the perforation and well completion operations, the Company initiated the testing program for all three gas-bearing zones. The first two test phases were conducted using 20/64-inch diameter choke and 32/64-inch diameter choke, respectively for four hours, with a four hour well buildup period in between. Following another four-hour well shut-in period, the third testing phase was conducted using a 40/64-inch diameter choke for four hours with a gas flow rate in the range of 5.19-6.03 MMcf/d. After a further four-hour build-up period, the final testing phase was conducted using a 36/64-inch diameter choke for fifteen hours, achieving a stable well-head pressure and a final stable gas flow rate of 5.66 MMcf/d. The well is now shut-in for a 5-day pressure build-up, after which the well will be tied-in to the flowline connecting to the Moftinu gas plant, once the construction of the flowline has been completed.