SERINUS ENERGY INC. Romania: Moftinu-1001 Finds Multiple Gas Zones

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 information about preliminary log results from the Moftinu-1001 exploration well in Romania.

Serinus operates in Romania through its wholly owned subsidiary WinstarSatu Mare SRL. The Moftinu 1001 well, has been drilled within the 765,000 acre exploration block known as the Satu Mare Concession, in north-western Romania. The Satu Mare Concession is 60% owned and operated by Winstar Satu Mare SRL and 40% owned by a subsidiary of KMG International, a company with a wide variety of interests in the Romanian energy sector.

Moftinu-1001 reached a total depth of 1,463 metres on November 28, 2014,after penetrating the entire Miocene and Pliocene sandstone section. These are the equivalents of the zones encountered in the Moftinu-1000 well drilled by Winstar Resources in 2012, which tested in aggregate 1.6 million cubic feet per day from two sands. The original planned total depth for Moftinu-1001 was 1,900 metres, intended to test the possibility of gas in pre Miocene (Eocene & Basement) structures, but mechanical difficulties encountered at 1,463 meters made drilling deeper not a viable option.

Logs indicate three Pliocene/Miocene aged zones with aggregate potentialnet pay of 17 metres at depths ranging from approximately 730 to 900 metres. These sands show excellent porosity, ranging between 24% and 36%.

The well also encountered three additional zones at depths between 500and 600 metres with aggregate sand thickness of 23 metres. These zones exhibit good reservoir properties, although the preliminary data is not conclusive as to the existence of hydrocarbons therein, and further evaluation will be required to confirm their commerciality

Moftinu-1001 has been cased, and completion and testing will commence inearly February. Serinus will file a completion and testing program with the Romanian regulators, and that approval is expected to be granted in January.

The drilling rig is now moving to the Moftinu-1002bis location, which isanticipated to be drilled and cased by the end of this month. Pending success, Moftinu-1002bis will be completed and tested immediately after Moftinu-1001.

These two wells, along with the recently acquired 180 square kilometre3D seismic program in the Santau area (including associated filings to the Government), will fulfil both the Government and partner ( Phase 2) minimum work commitment for Satu Mare Concession .

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 isavailable at the website: www.serinusenergy.com

More information on page: biznes.pap.pl

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