Serinus Energy Inc. reports, that KUB-Gas LLC, a partially-owned subsidiary in which Serinus has a 70% effective ownership interest through its 70% shareholding in KUBGas Holdings Limited, has received Special Permit No. 5835 from the State Geological Service of Ukraine authorising full industrial production from the Krutogorovskoye Licence for a 20-year term.

The new production licence replaces the previously issued 5-year Special Permit for exploration under which production was limited to no more than 10% of the in-place hydrocarbon volumes. With the conversion to a production licence, production from Krutogorovskoye is no longer limited. The Krutogorovskoye licence is operated by KUB-Gas.

Krutogorovskoye Licence

The target reservoirs underlying the Krutogorovskoye Licence, are of Musocvian and Bashkirian age with Bashkirian sandstones producing gas in both the K-1 and K-3 wells.

Tags: Serinus Energy Inc.