TUNISIA: Serinus Energy Reports Commencement of Workover Operations at Sabria N-2 Well

Serinus Energy plc has announced that the CTF-004 rig has completed rig-up and commenced
workover operations on the Sabria N-2 well in Tunisia. This operation will recomplete the N-2 well and
remove any wellbore restrictions. This well was drilled in 1980 but was not able to flow oil to surface
due to damage during completion. The N-2 is in close proximity to current Sabria producing wells, in
particular the prolific WIN-12bis well. The workover and recompletion is expected to take approximately
30-40 days. Company engineering analysis estimates that a successful workover and recompletion will
initially increase gross production from the Sabria field by approximately 420 boe/d.
Upon the recompletion of the N-2 well, the rig will be released.
Sabria is a large, conventional oilfield which the Company’s independent reservoir engineers have
estimated to have approximately 445 million barrels of oil equivalent hydrocarbons originally-in-place, of
which only 1.6 % has been produced to date.

commenced
workover operations on the Sabria N-2 well