May 03, 2016 3:10 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Serinus Energy Inc.

Company Overview

Serinus Energy Inc., together with its subsidiaries, engages in the exploration for and development of oil and gas properties. The company owns a 100% working interest in the Chouech Essaida, Ech Chouech, Sanrhar, and Zinna concessions, as well as a 45% working interest in the Sabria concession located in Tunisia. It also has a 60% working interest in the onshore Satu Mare concession covering an area of approximately 2,949 square kilometers located in north western Romania. The company is headquartered in Calgary, Canada. Serinus Energy Inc. is a subsidiary of Kulczyk Investments, S.A.

700-4th Avenue SW

Suite 1500

Calgary, AB T2P 3J4

Canada

Phone:

403-264-8877

Fax:

403-264-8861

Key Executives for Serinus Energy Inc.

Chief Executive Officer, President, Director, Member of Compensation & Corporate Governance Committee, Member of Reserves Committee and Member of Audit Committee
Age: 53
Total Annual Compensation: $468.0K
Chief Financial Officer
Total Annual Compensation: $231.0K
Chief Operating Officer and Executive Vice President
Total Annual Compensation: $360.0K
Compensation as of Fiscal Year 2014.

Serinus Energy Inc. Key Developments

Serinus Energy Mulls JV Partner For Financing

Serinus Energy Inc. (WSE:SEN) is considering to take on a joint venture partner to assist in it in financing the Moftinu project in Satu Mare, northwestern Romania.

Serinus Energy Inc. Announces Executive Changes

At its meeting on March 16, 2016, the Board of Directors of Serinus Energy Inc. accepted the resignation of Mr. Vanja Baros with immediate effect, and also with immediate effect, and also with immediate effect, nominated Mr.Lukasz Rdziniak as a non-executive director. Mr. Rdziniak is an attorney-at-law with more than 20 years of experience in private and public service. He is also General Counsel and a board member of Kulczyk Investments S.A.

Serinus Energy Inc. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2015

Serinus Energy Inc. reported financial results for the fourth quarter and full year ended December 31, 2015. Serinus recorded net losses of $14.7 million or $0.19 basic and diluted per share in fourth quarter 2015. The comparable values for 2014 were losses of $42.0 million or $0.53 basic and diluted per share. Capital expenditures were $1.910 million against $26.587 million a year ago. Funds from operations for 2015 fell to $16.8 million or $0.21 basic and diluted per share compared to $65.3 million or $0.83 basic and diluted per share in 2014. Serinus recorded net losses of $47.8 million or $0.61 basic and diluted per share 2015. The comparable values for 2014 were losses of $24.0 million or $0.30 basic and diluted per share. Capital expenditures were $18.785 million against $68.450 million a year ago.

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