Serinus Energy Inc. (“Serinus”, “SEN” or the “Company”) (TSX:SEN, WSE:SEN) provides an update on its operations in Tunisia. The Company has been informed by Entreprise Tunisienne D’Activites Petrolieres (“ETAP”) that the protests in the Kebili and Tataouine Governate regions have ended. This was further corroborated by news articles from Tunisia announcing the end of the protests.
The continued protests in the southern region were over jobs and development that blocked all oil field activities to the southern oilfields of Tunisia, including the Company’s Sabria field.
While the end of the protests is a critical and positive first step in the Company’s goal of resuming oil and gas production in Tunisia, the Company will continue its dialogue with the Government of Tunisia and our partner in the Sabria field ETAP to determine that the Company can resume production at its oil fields in a safe and secure environment with sufficient comfort that there will be no further production disruptions for the foreseeable future. As well, the Company has had no discussions with or notifications from the Ministry of Energy or the Ministry of Social Affairs as to what terms were offered to conclude the protests. Serinus has made no further commitments with regard to any additional employment or social contributions, and has been transparent in its discussions with the government and ETAP that we will continue to work with our partner and stakeholders to preserve the economic returns under current difficult market conditions.
The Company will update the market with regard to the progress of the resumption of production in Tunisia in due course.
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.
Vice President, External Relations & Strategy
|Serinus Energy Inc.
Chief Executive Officer
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.