Serinus Energy identifies several gas zones at Romanian exploration well

Oil and gas exploration and production firm Serinus Energy has identified several gas zones at the Moftinu-1001 exploration well in Romania.

The company drilled the Moftinu 1001 well, located within the 765,000 acre exploration block, dubbed the Satu Mare Concession, in north-western Romania.

Moftinu-1001 reached a total depth of 1,463m following the penetration of the entire Miocene and Pliocene sandstone section.

Logs suggest three Pliocene/Miocene aged zones with aggregate potential net pay of 17m at depths ranging from about 730m to 900m.

The well also encountered three additional zones at depths between 500m and 600m with a 23m aggregate sand thickness.

The Moftinu-1001 well has been cased, and completion and testing will start in early February 2015.

Serinus Energy will submit a completion and testing programme to the Romanian regulators with approval anticipated in January 2015.

Serinus Energy executive vice president and chief operating officer of Jock Graham said: "We are very pleased with the quality and quantity of the sand packages encountered in Moftinu-1001, and look forward to the test results in February.

"This is the first step in confirming the potential of the Satu Mare block in northwest Romania, which we believe could grow to become a significant new operation and production unit for Serinus."

Serinus Energy has a portfolio of projects in Ukraine, Brunei, Tunisia, Romania and Syria.

In Romania, the company owns an undivided 60% working interest in the onshore Satu Mare concession, a 2,949km² exploration and development block, in north western region of the country.

Image: The Moftinu-1001 well has been cased, and completion and testing will start in early February 2015. Photo: Courtesy of Serinus Energy.