Serinus Announces Moftinu 1001 Well Incident

CALGARY, Alberta, Dec. 18, 2017 -- Serinus Energy Inc. (“Serinus”, “SEN” or the “Company”) (TSX:SEN) (WARSAW:SEN), reports that at 1:49am CET on Monday December 18, 2017, during routine operation to prepare the Moftinu 1001 well for future production, an unexpected gas release occurred and  subsequently ignited.  The company was continuing the process of bringing the well out of suspension in advance of production.  At the time of the incident the Blow-out Preventer (“BOP”) was in the process of being attached to the well head. The wellsite has been evacuated and secured and all Company and contractor staff have been reported as safe with no injuries.  The Company’s well supervisor and drilling contractor are now working to re-establish control of the well.

The Satu Mare County fire department responded immediately and they are at the well site to ensure containment of the fire.  Officials from the town of Moftinu, Satu Mare County, and the National Agency of Mineral Resources are also on site. 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.