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    Serinus Energy Inc.  990  0 Kommentare Chouech Es Saida Field in Tunisia Temporarily Shut-in

    CALGARY, ALBERTA--(Marketwired - Jan. 16, 2017) - Serinus Energy Inc. ("Serinus", "SEN" or the "Company") (TSX:SEN) (WARSAW:SEN) announces that it has temporarily shut-in production at the Chouech Es Saida field in Tunisia. This field was initially shut-in on January 10, 2017, in anticipation of a three-day strike with production stoppage, as voted for by the Company's employees at the Winstar Chouech Es Saida facilities, which began at midnight January 11, 2017. The Company fully recognizes and supports the rights of its employees to take work action, however the safety of our employees and the facilities is paramount. The Company shut-in production for safety and security reasons on the presumption that production would be brought back on line following the end of the labour action. As the labour action includes a sit-in that has persisted after the communicated work action, the Company is unable to bring production back on line and must continue its shut-in of the facility for safety and security reasons

    For the past two years, the Company has been engaged in ongoing dialogue with the Tunisia General Trade Union ("UGTT") regarding the need for the Company to reduce operating costs at Chouech Es Saida due to the economic situation in the sector. As one part of the ongoing cost savings program, the company recently decided for a program of economic redundancy. The staff reductions in this program are necessary for the Company to further reduce operating costs and to remain a viable Tunisian employer and producer of hydrocarbons. In good faith, Serinus along with the Work Inspector of the Tunisian Government have been working diligently to follow the appropriate laws, work code and regulations with regards to this process. Unfortunately, UGTT Tataouine has failed to recognize the critical importance of having the operations at Chouech Es Saida operate at a profitable level. The temporary shut-in of the CS-3 well at Chouech Es Saida announced by the Company on December 20, 2016, has further exacerbated the economic situation with this field. The combination of UGTT Tataouine's decision to not cooperate with the Company on a fair and equitable redundancy process and the fact that the field profitability has been significantly curtailed with the temporary shut-in of the CS-3 well, has led the Company to the decision to keep the entire field shut-in until the point of time in the future that the CS-3 well can be brought back online and the field is producing at a profitable level.

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    Serinus Energy Inc. Chouech Es Saida Field in Tunisia Temporarily Shut-in CALGARY, ALBERTA--(Marketwired - Jan. 16, 2017) - Serinus Energy Inc. ("Serinus", "SEN" or the "Company") (TSX:SEN) (WARSAW:SEN) announces that it has temporarily shut-in production at the Chouech Es Saida field in Tunisia. This field was initially …