The company said two of those zones appear to be net pay, with the remaining four having resource potential.
Located on the southwest side of the major fault that runs via the Makeevskoye and Olgovskoye licenses, the well has been drilled to a total depth of 3,629m.
KUB-Gas is currently preparing to complete, test and tie-in the well.
Serinus Energy is planning to tie the well within a few weeks upon completion of testing in early February 2015 as various flowlines were pre-built in late 2014 in advance of the drilling program.
The final tie-in will be subject to the regulatory approvals from the Ukrainian authorities.
An amendment has been passed by the Ukrainian government to the Tax Code of Ukraine and, among other changes, permanently set the natural gas royalty rate at 55% for production at depth of 5,000m, or shallower, while wells producing at depths over 5,000m are subject to a 28% royalty rate.
The company said the new amendment does not address the relief period, so it is unclear whether it has expired with that original legislation.
Serinus will also seek clarification on this and other aspects of the administration of the new resolution on an expedient basis.
