RE:RE:Very Serious Discussions Going OnJust a copy of serinus's press release -Serinus Receives Notice of Exercise of Right of First Refusal on Sale of Ukraine Interests CALGARY, ALBERTA--(Marketwired - Jan. 7, 2016) - Serinus Energy Inc. (TSX:SEN)(WARSAW:SEN) ("Serinus", "SEN" or the "Company"), issues the following information regarding the pending sale of its interests in Ukraine. On December 23, 2015, Serinus announced that it had entered into an agreement to sell all of the 70% of the outstanding shares of Kubgas Holdings Limited ("KHL") currently owned by Serinus to a private purchaser. That transaction was subject to the waiver or expiry of the right of first refusal by the owner of the remaining 30% of KHL, namely Gastek LLC ("Gastek"), a wholly owned subsidiary of Cub Energy Inc. ("Cub"). Notice of exercise or waiver was due on or before the close of business on January 6, 2016, after which the right would be deemed to have expired. On January 6, 2016, the Company received a purported notice from Gastek (the "Notice"), stating that Gastek intends to purchase all of Serinus' shares in KHL. In addition, Cub subsequently issued a press release announcing that Gastek had exercised its right of first refusal to acquire all of the 70% of KHL currently held by Serinus, and that completion of the transaction "will be subject to the negotiation and execution of a definitive agreement with Serinus, which will contain customary terms and conditions for a transaction of this nature, including stock exchange approval, Ukrainian Anti-Monopoly Committee approval, financing and any other approvals required." Such wording was not included in the Notice nor was the agreement dated December 23, 2015 entered into between Serinus and a private purchaser conditional on such matters. The Company is studying and taking advice in respect of both the validity of the Notice and Cub's press release. In light of the information in Cub's Third Quarter Financial Statements which showed a working capital deficit of over a million dollars, the Company is also seeking confirmation from Gastek regarding its ability and commitment to complete the purchase of all of Serinus' shares in KHL in accordance with the timeframe and terms of the KHL shareholders' agreement. About Serinus