Serinus Energy plc announced that, in consultation with its partner ETAP, the Company will suspend workover operations at the W-1 well at the Sabria field in Tunisia while options for its completion are assessed. The rig will now move to the N-2 well to proceed with the recompletion of this well. As previously announced the rig did not meet the Company's certification requirements and operations were delayed pending that certification.

Subsequent to the rig achieving certification the CTF-004 rig and crew have performed well and the rig experienced no material downtime. The workover initially progressed very well with two of three tubing strings being successfully removed to a depth of 3,433 metres. However unexpected conditions were subsequently encountered in the wellbore as a result of old drilling mud and tubulars left in the well from operations in 1998 which impeded progress with the removal of the final 1.5 inch coiled tubing below a depth of 2,889 metres.

More than 85% of the 1.5 inch tubing was recovered, however an excess layer of old debris and drilling mud prevented the removal of further 1.5 inch tubing. The Company and its partner, ETAP, have reviewed the progress and determined that the workover will be suspended pending investigations of alternative means of completing the programme. Sabria production has remained constant and uninterrupted during the workover program.

In the meantime, the Company and its partner have elected to proceed with operations on the Sabria N-2 well to perform a workover to recomplete the well. This well was drilled in 1980 but was damaged during completion and, although in proximity to producing wells, was not able to flow oil to surface due to damage during completion. The workover program is designed to recomplete the well and remove any wellbore restrictions.

Whilst conducting the N-2 workover the Company will consider all options to complete the W-1 pump installation.