SERINUS ENERGY INC. Romania - Drilling Program Update

Current Report No. 44/2014

Date: 2014-10-20 Issuer's trading name: SERINUS ENERGY INC.

Title: Romania - Drilling Program Update Legal basis: other regulations

Content:Pursuant to Article 62.8 of the Act of 29 July 2005on Public Offering [...] the Management of SERINUS ENERGY INC. ("Serinus" or the "Company") informs that in Canada via the SEDAR system it has published update on its upcoming two well drilling program in the Satu Mare licence in northwest Romania. The Company has entered into a contract with Tacrom Drilling SRL, which will provide its Rig #3 for the program. The first well, Moftinu-1001, is expected to spud on or about November 8th, pending the rig's release from its current job. Moftinu-1001 will be followed immediately by Moftinu-1002bis. The two wells are expected to take approximately 45 days in aggregate to drill and case, including time for the rig move between the two locations. Each will test seismically-defined gas prospects at depths of approximately 1,800 - 2,000 metres. Pending success, completion and testing of both wells is anticipated during Q1 2015. The wells are operated by Winstar Satu Mare SRL, a wholly-owned subsidiary of Serinus.

The Satu Mare licence covers 765,000 acres in northwest Romaniabordering Hungary, in which Winstar Satu Mare holds a 60% working interest. The concession contains a significant number of oil and gas tests including the Santau oil pool, and the Company has developed over 50 leads and prospects thereon.

Tacrom Drilling SRL, which is a subsidiary of CAT GmbH, a Celle,Germany, based oil and gas field service contractor and equipment manufacturer, currently operates three drilling rigs in Romania and will before end of October 2014 commission its fourth. Rig #3 (Futura-3) was completely refurbished in 2013 and has since successfully drilled 11 wells ranging in depth from 1,300 to 1,800 metres.

This text contains selected excerpts from the original news release inEnglish, which has been filed by Company in Canada (country of its registered office ) by way of the SEDAR system and is available at the website www.sedar.com by entering the Company name at http://www.sedar.com/search/search_form_pc_en.htm. The Polish translation of the entire text of the news release is available at the website: www.serinusenergy.com

More information on page: biznes.pap.pl

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