Serinus Appoints Helmut J. Langanger as Chairman & Reports Voting Results from
CALGARY, ALBERTA -- (Marketwired) -- 05/15/14 -- Serinus Energy
Inc. ("Serinus", "SEN" or the "Company") (TSX: SEN)(WARSAW: SEN) is
pleased to report that at its annual meeting of shareholders ("AGM")
held on May 14, 2014, each of the nominees proposed as directors in
its Proxy Statement and Information Circular dated April 16, 2014
were elected as directors of the Company.
Appointment of New Chairman
Serinus is also pleased to announce that Helmut J. Langanger has been
appointed as the Chairman of the Company, replacing Dariusz Mioduski
who retired from the board at the AGM.
Mr. Langanger is a Petroleum Engineer with 40 years of experience in
the energy industry. He began his career with OMV AG, where he worked
from 1974 to 2010, rising to the positions of Group Executive Vice
President E&P, a member of the Executive Board, and Managing Director
Upstream. OMV, the largest oil company in Central and Eastern Europe,
is listed on the Vienna Stock Exchange. During Mr. Langanger's term
as Managing Director from 2002 until his retirement in 2010, OMV
increased their production from 80,000 to 320,000 barrels of oil
equivalent per day. Mr. Langanger has been a director of Serinus
since November 2011 and Chairman of the Serinus Reserves Committee
since March 2012. He is also a director of Schoeller Bleckmann
Oilfield Equipment A.G. (Austria), Enquest plc, an independent
UK-based petroleum exploration and production company working mainly
in the UK Continental Shelf, and MND as, the largest oil and gas
producing company in the Czech Republic. Mr. Langanger holds a M.Sc.
in Petroleum Engineering from the Mining University of Leoben,
Austria, and an M.A. from the University of Vienna.
The results of the vote for directors are as follows:
Votes For Votes Withheld
Number Percent (%) Number Percent (%)
Stephen C. Akerfeldt 49,560,632 99.97 13,774 0.03
Timothy M. Elliott 49,562,635 99.98 11,771 0.02
Norman W. Holton 49,560,142 99.97 14,264 0.03
Evgenij Iorich 49,560,877 99.97 13,529 0.03
Gary R. King 49,563,125 99.98 11,281 0.02
Sebastian Kulczyk 49,560,330 99.97 14,076 0.03
Helmut J. Langanger 49,563,080 99.98 11,326 0.02
Manoj N. Madnani 49,545,766 99.94 28,640 0.06
Michael A. McVea 49,560,587 99.97 13,819 0.03
For complete voting results, please see our Report of Voting Results
available through SEDAR at www.sedar.com.
Serinus is an international upstream oil and gas exploration and
production company with a diversified portfolio of projects in
Ukraine, Brunei, Tunisia, Romania and Syria and with a risk profile
ranging from exploration in Brunei, Romania and Syria to production
and development in Ukraine and Tunisia. The common shares of the
Company trade under trading symbol "SEN" on both the WSE (Warsaw
Stock Exchange) and the TSX.
In Ukraine, Serinus owns an effective 70% interest in KUB-Gas LLC
through its 70% shareholding of KUBGas Holdings Limited. The assets
of KUB-Gas LLC consist of 100% interests in five licences near to the
City of Lugansk in the northeast part of Ukraine. Four of the
licences are gas producing.
In Tunisia, Serinus owns a 100% working interest in the Chouech
Essaida, Ech Chouech, Sanrhar and Zinnia concessions, and a 45%
working interest in the Sabria concession. Four of the concessions
are currently producing oil or gas.
In Brunei, Serinus owns a 90% working interest in a production
sharing agreement which gives the Company the right to explore for
and produce oil and natural gas from Block L.
In Romania, Serinus has an undivided 60% working interest in the
onshore Satu Mare concession, a 2,949 square kilometre exploration
and development block, in north western Romania.
In Syria, Serinus holds a participating interest of 50% in the Syria
Block 9 production sharing contract which provides the right to
explore for and, upon the satisfaction of certain conditions, to
produce oil and gas from Block 9, a 10,032 square kilometre area in
northwest Syria. The Company has an agreement to assign a 5%
ownership interest to a third party which is subject to the approval
of Syrian authorities, and which, if approved, would leave the
Company with a remaining effective interest of 45% in Syria Block 9.
Serinus declared force majeure, with respect to its operations in
Syria, in July 2012.
The main shareholder of the Company is Kulczyk Investments S.A., an
international investment house founded by Polish businessman Dr. Jan
For further information, please refer to the Serinus website
Translation: This news release has been translated into Polish from
the English original.
Suite 1170, 700-4th Avenue SW, Calgary, Alberta, Canada
Al Shafar Investment Building, Suite 123, Shaikh Zayed Road, Dubai, UAE
Nowogrodzka 18/29, 00-511 Warsaw, Poland
Telephone: +48 (22) 414 21 00
Serinus Energy Inc. - Canada
Norman W. Holton
Serinus Energy Inc. - Canada
Gregory M. Chornoboy
Director - Capital Markets & Corporate Development
Serinus Energy Inc. - Poland
Jakub J. Korczak
Vice President Investor Relations & Managing Director CEE
+48 22 414 21 00
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