Serinus Energy PLC — Board/Management Information 2020

Jan 23, 2020

Current Report No. 3/2020Date: 2020-01-23Issuer's tradingname: SERINUS ENERGY plcTitle:Appointment of Chief FinancialOfficer

Legal basis: Article 56 section 1 Item 2 Act on Public Offering -currentand periodical information

Content:The Management of SERINUS ENERGY plc ("Company","Serinus") announces the appointment, with effect from 05 February 2020,of Mr. Andrew Fairclough as Chief Financial Officer of Serinus Energyplc. He will also be appointed as a non-independent member of the Boardof Directors of the Company.

Andrew Fairclough has an LLB degree from University College London,graduating in 1991. Andrew has held corporate finance, capital marketsand management roles for nearly 30 years, through which he has gained awide range of experience, including corporate strategy, debt and equitystructuring and capital raising, M&A, capital management, financialplanning, budgeting and financial reporting. Since 2014 he has been theChief Financial Officer of Whalsay Energy Limited, a UK ContinentalShelf oil and gas company, and prior to moving into the oil and gasindustry in 2012, Andrew had over 17 years of investment bankingexperience after leaving the military.

Jeffrey Auld, President and CEO of the Company, and all members of theBoard welcome Andrew to the Company. They look forward to Andrew'scontributions going forward as the Company looks to build on the successof the Moftinu Gas Project in Romania and further grow shareholder valuethrough the efficient allocation of capital.

Activities performed by Mr. Fairclough outside the Company are notcompetitive towards activities pursued within the Company. Mr.Fairclough is neither a shareholder in a competitive partnership nor amember of the body of a company or any other competitive legal person.Mr. Fairclough has not been entered into the Register of InsolventDebtors (Rejestr Dłużników Niewypłacalnych) in Poland pursuant to thePolish National Court Register Act.

Regulatory disclosures(in accordance with Rule 17 and ScheduleTwo paragraph (g) of the AIM Rules for Companies):

Andrew John Fairclough, aged 50, has no current directorships orpartnerships. In the last five years Andrew was also a director of XciteEnergy Resources plc.

Andrew Fairclough was previously a director of Xcite Energy Limited (acompany registered in the BVI), which was quoted on AIM, a market of theLondon Stock Exchange. Liquidators were appointed to Xcite EnergyLimited, at the bondholders' request, on 05 December 2016. The totalamount owing to creditors was c. £124.6mm. The company was dissolved on16 November 2017.

No further disclosure is required under Rule 17 and Schedule Twoparagraph (g) of the AIM Rules for Companies).

The attachment to this current report contains text of the originalpress release in English concerning the appointment of Andrew Faircloughas CFO, which has been filed by the Company in the UK and will also beavailable on Company's website: www.serinusenergy.com.