August 24, 2016 2:50 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Serinus Energy Inc.

Company Overview

Serinus Energy Inc., together with its subsidiaries, engages in the exploration for and development of oil and gas properties. The company owns a 100% working interest in the Chouech Essaida, Ech Chouech, Sanrhar, and Zinna concessions, as well as a 45% working interest in the Sabria concession located in Tunisia. It also has a 60% working interest in the onshore Satu Mare concession covering an area of approximately 2,949 square kilometers located in north western Romania. The company is headquartered in Calgary, Canada. Serinus Energy Inc. is a subsidiary of Kulczyk Investments, S.A.

700-4th Avenue SW

Suite 1500

Calgary, AB T2P 3J4

Canada

Phone:

403-264-8877

Fax:

403-264-8861

Key Executives for Serinus Energy Inc.

Chief Executive Officer, President, Director, Member of Compensation & Corporate Governance Committee, Member of Reserves Committee and Member of Audit Committee
Age: 54
Total Annual Compensation: $468.0K
Chief Financial Officer
Total Annual Compensation: $199.4K
Chief Operating Officer and Executive Vice President
Total Annual Compensation: $360.0K
Executive Vice Chairman, Member of Audit Committee, Member of Compensation & Corporate Governance Committee and Member of Reserves Committee
Age: 65
Total Annual Compensation: $225.2K
Vice President of Exploration
Total Annual Compensation: $172.0K
Compensation as of Fiscal Year 2015.

Serinus Energy Inc. Key Developments

Serinus Energy Inc. Announces Earnings and Operating Results for the Second Quarter Ended June 30, 2016; Provides Operating Guidance for the Third Quarter of 2016

Serinus Energy Inc. announced earnings and operating results for the second quarter ended June 30, 2016. For the quarter, the company reported oil and gas revenue was USD 4,080,000 against USD 6,815,000 a year ago. The decrease in revenue against 2015 was due substantially to lower commodity prices. Net loss was USD 3,994,000 or USD 0.05 basic and diluted per share against USD 1,123,000 or USD 0.01 basic and diluted per share a year ago. Comprehensive net loss was USD 3,994,000 or USD 0.05 basic and diluted per share against profit of USD 3,483,000 or USD 0.04 basic and diluted per share a year ago. Funds from operations was negative to USD 714,000 or USD 0.01 basic and diluted per share against positive to USD 1,860,000 or USD 0.02 basic and diluted per share a year ago. Capital expenditures was USD 611,000 against USD 2,531,000 a year ago. For the quarter, the company reported average oil production was 882 bbl/d against 951 bbl/d a year ago. Average gas production was 1,942 Mcf/d against 1,531 Mcf/d a year ago. Average BOE production was 1,206 boe/d against 1,206 boe/d a year ago. Average oil sales price was USD 41.25 per bbl against USD 63.48 per bbl a year ago. Average gas sales price was USD 4.35 per mcf against USD 9.50 per mcf a year ago. Average BOE sales price was USD 37.18 per boe against USD 62.12 per boe a year ago. Tunisian netbacks were USD 11.71/boe in the second quarter, significantly lower than the USD 24.32/boe achieved in the second quarter 2015, due substantially to the effects of lower commodity prices. The company expected average daily production (SEN WI) for the 2016 third quarter to date was approximately 998 boe/d (822 bbl/d of oil, 1.1 MMcf/d of gas). Management estimates that rectification of these issues will restore approximately 900 Mcf/d and 100 bbl/d of production respectively.

Serinus Energy Inc. Announces Production Results for the Second Quarter and First Half Ended July 2016

Serinus Energy Inc. announced production results for the second quarter and first half ended July 2016. For the quarter, the company reported approximately 1,217 boe/d (SEN WI), representing a 45% decrease from 2,213 boe/d in the first quarter. The difference is due substantially to the sale of the Ukraine assets in early February. For the first half of July, production averaged of approximately 1,070 boe/d, comprised of 864 bbl/d of oil and 1.2 MMcf/d of natural gas.

Serinus Energy Mulls Financing

Serinus Energy Inc. (WSE:SEN) intends to pursue financing. Serinus plans to raise $20 million in financing by the end of 2017. Serinus needs the financing for its three Romanian projects and transit infrastructure, Deputy Chief Executive Officer, Janusz Korczak, said. Most of the financing would be raised from an external partner, through either a joint venture or farm-out, he added.

Similar Private Companies By Industry

Company Name Region
0770728 BC Ltd. Americas
0893624 B.C. Ltd. Americas
101025267 Saskatchewan Ltd Americas
101047025 Saskatchewan Ltd. Americas
1089814 Alberta Ltd. Americas

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 23, 2015
KUB-Gas Holdings Limited
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Serinus Energy Inc., please visit www.serinusenergy.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.