Serinus Energy Announces Signing of Contract with EPCC Contractor for the Moftinu Gas Development Project

Serinus Energy Inc. is pleased to announce it has signed an Engineering, Procurement, Construction and Commissioning Contract ("EPCC") with Confind S.R.L. ("Confind"), a Romanian company, for the construction of a gas processing facility and associated flowlines and pipelines for the Moftinu Gas Development Project in Romania. Confind has significant experience as an EPCC contractor for gas facilities and pipeline projects in Romania. The signing of this contract is an important milestone for the Company as it progresses the Moftinu project to first gas production. Construction will commence imminently with expected first gas production in the first quarter of 2018.

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.

Source: Serinus Energy Inc.
Date: May 9, 2017