Serinus Energy Inc.

Serinus Energy Inc.

December 10, 2014 06:00 ET

Serinus Energy Inc.: Romania: Moftinu-1002bis Commences Drilling

CALGARY, ALBERTA--(Marketwired - Dec. 10, 2014) - Serinus Energy Inc. ("Serinus", "SEN" or the "Company") (TSX:SEN)(WARSAW:SEN), is pleased to report that the Moftinu-1002bis exploration well has commenced drilling.

Moftinu-1002bis is located in the Satu Mare Concession ("Satu Mare") in northwest Romania and is the second of a two well drilling program by the Company in that concession. The planned total depth is 2,080 metres and the well is expected to take 20 days to drill and is targeting Miocene and Pliocene aged sands at depths between 500 - 1,600 metres. It is on the opposite side of a bounding fault from the recently drilled Moftinu-1001 well, and will test a separate structural closure.

Both wells are following up on the Moftinu-1000 well drilled in 2012, which tested an aggregate of 1.6 million cubic feet per day from two zones. Moftinu-1000 was drilled prior to the acquisition of 3D seismic over the area, and is located down dip of both the Moftinu- 1001 and 1002bis wells. If successful, Moftinu-1002bis will be completed and tested during Q1 2015, immediately after testing Moftinu-1001.

Satu Mare is a 765,000 acre exploration block, located 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, a company with a wide variety of interests in the Romanian energy sector.

About Serinus

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

For further information, please refer to the Serinus website (

Suite 1500, 700-4th Avenue SW, Calgary, Alberta, Canada
Telephone: +1-403-264-8877
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Telephone: +971-4-339-5212
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Telephone: +48 (22) 414 21 00

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.

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