Serinus Energy (GB:SENX) has released an update.
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Serinus Energy PLC reported a modest increase in Q1 2024 EBITDA to $0.9 million, up from $0.8 million in Q1 2023, despite a slight decrease in revenue from $4.9 million to $4.6 million in the same period. The company saw a reduction in net loss to $0.5 million compared to $1.3 million the previous year, attributing this improvement to increased Tunisian production volumes and favorable oil prices. Furthermore, production expenses rose due to high inflationary pressures, and the company continued to progress on its Tunisian artificial lift program and Romanian seismic work.
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