Serinus Energy plc (LON:SENX) has announced its Annual Financial Results for 2023.
2023 HIGHLIGHTS
FINANCIAL
· Revenue for the year ended 31 December 2023 was $17.9 million (2022 – $49.3 million)
· Cash generated from operations for the year ended 31 December 2023 was $1.9 million (2022 – $7.4 million)
· EBITDA for the year ended 31 December 2023 was $2.1 million (2022 – $12.7 million)
· Gross profit for the year was $2.5 million (2022 – $12.9 million)
· The Group recognised impairment of the Romanian assets in the amount of $7.0 million (2022 – $1.9 million) reflecting the depletion of the Moftinu gas field
· The Group’s production expense averaged $34.78/boe (2022 – $31.82/boe)
· The Group realised a net price of $77.58/boe for the year ended 31 December 2023 (2022 – $149.46/boe), comprising:
o Realised oil price – $79.85/bbl (2022 – $94.39/bbl)
o Realised natural gas price – $11.94/Mcf (2022 – $34.53/Mcf)