IN BRIEF: Serinus Files Arbitration Request Against Former Partner

Serinus Energy PLC - Saint Helier, Jersey-based oil company - Files a request for arbitration with the Secretariat of the International Court of Arbitration of the International Chamber of Commerce. Request for arbitration concerns company's former joint venture partner on the Satu Mare Concession in Romania, Oilfield Exploration Business Solutions SA. Serinus seeks to have arbitral tribunal issue a declaration affirming its rightful claim of ownership of OEBS' 40% participating interest in the concession. Company also seeks an order compelling OEBS to take all necessary steps to formally transfer the 40% interest to Serinus due to OEBS' failure to carry out its contractual obligations under the joint operating agreement.

Current stock price: 4.10 pence

Year-to-date change: down 51%

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

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