Serinus Provides Update to Moftinu 1001 Well Incident

CALGARY, Alberta, Dec. 18, 2017 -- Serinus Energy Inc. (“Serinus”, “SEN” or the “Company”) (TSX:SEN) (WARSAW:SEN) reports that the situation at the Moftinu 1001 wellsite remains stable.  The Company has contracted SafetyBoss, an internationally renowned well control company based in Calgary, Canada, to manage the Moftinu 1001 well incident. SafetyBoss is sending a well control team into Romania, who will arrive within the next 36 hours.  Equipment is currently being secured to enable well control activities.

The Company also remains in contact with all relevant Authorities and the emergency services in Satu Mare County, and continues to closely monitor the situation. The cause of this incident is not currently known and the Company's primary consideration is to safely and quickly bring the gas well under control.  The Company will provide ongoing status updates to the market.  

About Serinus

Serinus is an international upstream oil and gas exploration and production company that owns and operates projects in Tunisia and Romania.

For further information, please refer to the Serinus website (www.serinusenergy.com) or contact the following:

Translation: This news release has been translated into Polish from the English original.

Forward-looking Statements This release may contain forward-looking statements made as of the date of this announcement with respect to future activities that either are not or may not be historical facts. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable as of the date hereof, any potential results suggested by such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.  Various factors that could impair or prevent the Company from completing the expected activities on its projects include that the Company's projects experience technical and mechanical problems, there are changes in product prices, failure to obtain regulatory approvals, the state of the national or international monetary, oil and gas, financial , political and economic markets in the jurisdictions where the Company operates and other risks not anticipated by the Company or disclosed in the Company's published material. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties and actual results may vary materially from those expressed in the forward-looking statement. The Company undertakes no obligation to revise or update any forward-looking statements in this announcement to reflect events or circumstances after the date of this announcement, unless required by law.