Current Report No. 26/2017
Current Report No. 26/2017Date: 2017-05-22Issuer's trading name:
SERINUS ENERGY INC.
Title: Temporarily shut-in production at the Sabria field in Tunisia
Legal basis: other regulations
Content:Pursuant to Article 62.8 of the Act of 29 July 2005
on Public Offering [...] the Management of SERINUS ENERGY INC.
("Serinus" or the "Company") informs that in Canada via the SEDAR system
it has published information that it has temporarily shut-in production
at the Sabria field in Tunisia due to continued social unrest in the
southern part of the country.
Protestors in the region are demanding employment and regional
development initiatives from the government. These protest actions have
blocked all roads leading to the southern oilfields of Tunisia including
the Company's Sabria field. As a result of the road blockages, the
Company has been unable to ship its oil production to market and has
resulted in the Company filling its storage tanks at Sabria to capacity.
It is unknown how long the production at Sabria will be shut-in, but the
Company has maintained open communications with the government and other
oil producers to closely monitor the situation. It is the Company's hope
that a solution to the social unrest can be achieved as soon as possible
and the oil production in the region can resume to the benefit of the
country of Tunisia and all its citizens.
The Company's average net production at Sabria for the month of April
was 630 BOE per day.
This text is a translation of the original news release in English,
which has been filed by Company in Canada (country of its registered
office ) by way of the SEDAR system and is available at the website
www.sedar.com by entering the Company name - Serinus Energy Inc. at
BOEs may be misleading, particularly if used in isolation. A BOE
conversion ratio of 6 Mcf:1 bbl is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead.