Serinus Energy publishes 2023 Annual Financial Results

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)

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