Ashurst advised Serinus Energy Inc., on its agreement for the sale of all of the 70% of its shares in KUB-Gas Holdings Limited ("KHL"), which, in turn, wholly owns KUB-Gas LLC ("KUB-Gas"). KUB-Gas owns (directly and indirectly through its subsidiary, KUB-Gas Borova LLC) 100% of, and operates, the six licenses/permits in Ukraine which contain the Olgovskoye, Makeevskoye, Vergunskoye and Krutogorovskoye gas fields.

Serinus Energy is an international oil and gas exploration and production company dual listed on the Warsaw Stock Exchange and on the Toronto Stock Exchange.

The sale was signed on 23 December 2015, and completion is expected in January 2016.

The Ashurst team was led by resources partner Renad Younes, assisted by associates Raquel Tarancon Plata and Caroline Johansen.

Commenting on the deal, Renad said:

"We are delighted to have had the opportunity to work Serinus Energy Inc on this important strategic disposal and we look forward to continuing to develop our relationship with the company."