The Moftinu-1002bis well has hit hydrocarbon pay in the Satu Mare Concession in northwest Romania, Serinus Energy said in a news release.

The well, which was spud in early December, reached a total depth of 2,083 m (6,834 ft) on Dec. 27, 2014. Open-hole wireline logs, mud logs and drill cuttings indicate seven Cenezoic-aged sandstones with an aggregate of 90.5 m (297 ft) of hydrocarbon-bearing rock and 22 m (72 ft) of potential net pay, the release said.

Only a limited electric log suite was obtainable over three of the lower zones due to several well stabilization issues which resulted in hole collapse and washout, Serinus said in the release. The net pay in those zones was determined primarily from strip logs, mud logs and observation of fluorescence. The wellbore instability appears to be due to increased tectonic stress at the top of the structure.

A liner has been set and cemented in place at a depth of 1,742 m (5,715 ft), and Serinus will now file a completion and testing program with the Romanian regulators. That approval is expected to be granted in or around early February.

Completion and testing of both Moftinu-1002bis and the previously drilled Moftinu-1001 will commence in mid-February and is expected to be complete in early March, the release said. These two wells, along with the 180 sq-km (70 sq-mile) 3-D seismic program in the Santau area shot in late 2014 and associated filings to the government, will fulfill both the government and partner minimum work commitment for Satu Mare Concession, Phase 2.

Satu Mare is a 765,000-acre exploration block in northwest Romania which is 60% owned and operated by Winstar Satu Mare SRL, a wholly owned subsidiary of Serinus. The other 40% is owned by a subsidiary of KMG International.