Serinus Energy Inc. report that production testing on the Moftinu-1001 well has been completed and the maximum flow rate achieved was 7.4 MMcf/d through an 40/64 inch choke at a flowing wellhead pressure of 813 psi. Only trace amounts of water and 19 bbl/d of condensate were produced. The flow test was conducted over approximately 48 hours, after which it was shut in for a pressure build up test.

Moftinu-1001 was drilled in November/December of 2014 to test the hydrocarbon potential of an anomaly defined by 3D seismic. The well encountered three Pliocene/Miocene aged sands with an aggregate potential net pay of 17 metres and porosity ranging between 24% and 36% indicated by the wireline logs. It is located in the Satu Mare Concession ("Satu Mare"), a 765,000 acre exploration block in northwest Romania which is 60% owned and operated by Winstar Satu Mare SRL, a wholly owned subsidiary of Serinus.

Tags: Serinus Energy Inc.