Serinus Energy plc ('Serinus' or the 'Company') (AIM:SENX, WSE:SEN), is pleased to announce its interim results for the three months ended 31 March 2023.

Financial

Revenue for the three months ended 31 March 2023 was $4.9 million (31 March 2022 - $13.4 million)

Gross profit for the three months ended 31 March 2023 was $0.9 million (31 March 2022 - $2.9 million)

EBITDA for the three months ended 31 March 2023 was $0.4 million (31 March 2022 - $3.1 million)

Net loss for the three months ended 31 March 2023 was $1.3 million (31 March 2022 - net income $1.0 million)

In Tunisia, production has remained stable in the first three months of 2023. The Company is

expecting to perform a lifting in the latter half of May 2023 of 50,344 bbls of Tunisian crude oil

The CTF-004 rig has completed rig-up and commenced workover operations on the Sabria N2 well in Tunisia. The workover and recompletion is expected to take approximately 30-40 days, as announced on 2 May 2023

The workover of the Sabria W-1 well was suspended despite good initial progress resulting in

the successful removal of two of three tubing strings to a depth of 3,433 metres. However

unexpected conditions were subsequently encountered in the wellbore as a result of old debris and drilling mud left in the well from operations in 1998 which prevented the further removal of the 1.5-inch tubing below 2,889 metres.

The Company has undertaken work to design a side track to complete the Sabria W-1 pump installation. Long lead items and rig availability are being determined

About Serinus

Serinus is an international upstream oil and gas exploration and production company that owns and operates projects in Tunisia and Romania

Contact:

Tel: +44 204 541 7859

Forward Looking Statement Disclaimer

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 forwardlooking 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

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