Serinus Announces Filing of Final Short Form Prospectus, Expected Closing of Offering for Gross Proceeds of CDN$25.2 Million and Refiling of Annual Information Form - Seite 2

Further, the Revised AIF has been revised to include disclosure of contingent resources at a 60% working interest in the Satu Mare Concession in Romania in Appendix A.1 of the Revised AIF. The disclosure of the contingent resources data in Appendix A of the Original AIF reflected the inclusion of both the Company's 60% working interest in the Satu Mare Concession, as well as the remaining 40% working interest in respect of which the Company had entered into a Withdrawal and Trust Agreement providing for the provisional transfer of the 40% working interest to the Company. That Withdrawal and Trust Agreement has subsequently been nullified.

The Revised AIF also corrects the following errors: (i) references to product groups that have been repealed in the amendments to National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101"), effective July 1, 2015, have been replaced with the accepted product types under NI 51-101; (ii) disclosure of the values of proved undeveloped and probable undeveloped reserves that were first attributed in each of the most recent three financial years for each product type has been added; and (iii) references to "possible reserves" throughout were removed as possible reserves were not disclosed.

Other than as expressly set forth above, the Revised AIF does not, and does not purport to, update or restate the information in the Original AIF or reflect any events that occurred after the date of the Original AIF. For further information, see the "Notice to Reader" in the Revised AIF, a copy of which is available under the Company's profile on www.sedar.com.

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).

Translation: This news release has been translated into Polish from the English original.

Forward-looking Statements This release contains forward-looking information including statements regarding the completion of the Offering and the timing thereof and the expected aggregate gross proceeds of the Offering. The use of any of the words "target", "plans", "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Such forward-looking information is based on management's expectations and assumptions, including that expectations and assumptions concerning the satisfaction of all conditions to the closing of the Offering and on the time frames currently contemplated. Forward-looking information involves significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: any of the assumptions on which such forward-looking information is based vary or prove to be invalid, including the failure to obtain, in a timely manner, regulatory, stock exchange and other required approvals in connection with the Offering and the other conditions to closing the Offering will not be satisfied in a timely manner or at all, political, social, fiscal, legal and economic risks in the countries in which the Company operates, partner or counter-party risk, geological, technical, drilling and processing problems and the other risks identified in the Company's most recent Annual Information Form under the "Risk Factors" section, the Company's most recent management's discussion and analysis and the Company's other public disclosure, available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to take into account important factors that could cause actual costs or results to differ materially, there may be other factors that cause actual results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The forward-looking information included in this release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.