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Serinus Announces Receipt of EBRD Waiver

Serinus Energy Inc. (the “Company”) is pleased to report that the European Bank of Reconstruction and Development (“EBRD”) has formally waived compliance with the financial debt to EBITDA ratio and the debt service coverage ratio on the Company’s debt at the consolidated level for the three-month period ended March 31, 2017.

 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) or contact the following:

Serinus Energy Inc.

Calvin Brackman

Vice President, External Relations & Strategy

Tel.: +1-403-264-8877

cbrackman@serinusenergy.com

Serinus Energy Inc.

Jeffrey Auld

Chief Executive Officer

Tel.: +1-403-264-8877

jauld@serinusenergy.com

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

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.