AGM Statement

Serica Energy plc
15 June 2006


FOR IMMEDIATE RELEASE: Thursday 15th June, 2006

                     SERICA ENERGY PLC PLANS TO DEVELOP THE
                           KAMBUNA FIELD IN INDONESIA
                          ('Serica' or 'the Company')


London, 15th June 2006 - At the Serica AGM today Antony Craven Walker, Chairman,
made the following comments:

'Serica made great progress in 2005, achieving one hundred per cent success with
the drill bit and a successful listing on London's AIM market, giving it
investment community support in Europe and Canada and a strong financial
position.

Serica's Board expects to give full project sanction for development of the
Kambuna Field, offshore North Sumatra, Indonesia in the near future. Serica is
operator of the Kambuna Field, holding a 65% interest, and this development is
integral to the Company's plan to move its operated assets in Indonesia into the
production phase and satisfy a growing market in the region. The field is
expected to come onstream in 2008 at an initial rate of 50 million cubic feet of
gas per day and 5,000 barrels per day of condensate. The full extent of the
Kambuna Field has yet to be defined and the Company will carry out a 3D seismic
survey in 2006 to identify further extensions. This is a major step forward for
Serica and has the potential to be a material producing asset in the medium to
long term.

As part of the development plan we intend to fast track the development of the
field using 'dry' wellheads and a Floating Production Storage and Offtake vessel
('FPSO'), which offers significantly lower drilling and production costs than a
subsea solution.

We also plan to construct the infrastructure to deliver the gas to market, and
the terms of the gas sales contract are under negotiation.  We estimate there
will be a gas market shortfall in North Sumatra of around 100 to 200 mmscfd by
2010.  In addition to the Kambuna field development Serica has also submitted a
Plan of Development for the Tanjung Perling field in the neighbouring Asahan
Block which Serica also operates. We will continue to explore for additional gas
supplies to add to the Kambuna and Tanjung Perling developments with nine
prospects and leads already identified.

With a high impact exploration programme across Indonesia and the UK due to
commence shortly and near term development in Indonesia on track for first gas
in 2008 Serica is well placed to generate growth for shareholders.'

The Company is also pleased to announce that all of the resolutions set out in
the Notice of Annual General Meeting dated 21 May 2006 were duly passed, without
amendment, at the Annual General Meeting held today.

A presentation given by the management at today's AGM, outlining the development
plan and exploration and development drilling programme commencing in the UK and
Indonesia Q4 2006, is now available to view on the Company's website,
www.serica-energy.com.


Enquiries:

Serica Energy plc
Paul Ellis,                          [e-mail]                      [phone]

Chief Executive Officer
Chris Hearne,                        [e-mail]                     [phone]

Finance Director

Pelham Public Relations -UK
James Henderson                      [e-mail]                  [phone]
Alisdair Haythornthwaite             [e-mail]         [phone]

CHF Investor Relations - Canada
Jan Moir                             [e-mail]                                 [phone]
Heather Colpitts                     [e-mail]                             [phone]


Background Notes



Serica Energy plc is an international oil and gas exploration company with
operations in Indonesia, the UK North Sea and Spain. The Company's ordinary
shares are listed in London on AIM and on the Canadian TSX Venture Exchange
under the symbol 'SQZ'.



Annual Report and Accounts are available at www.serica-energy.com and
www.sedar.com.



Forward Looking Statements



This disclosure contains certain forward looking statements that involve
substantial known and unknown risks and uncertainties, some of which are beyond
Serica Energy plc's control, including: the impact of general economic
conditions where Serica Energy plc operates, industry conditions, changes in
laws and regulations including the adoption of new environmental laws and
regulations and changes in how they are interpreted and enforced, increased
competition, the lack of availability of qualified personnel or management,
fluctuations in foreign exchange or interest rates, stock market volatility and
market valuations of companies with respect to announced transactions and the
final valuations thereof, and obtaining required approvals of regulatory
authorities.  Serica Energy plc's actual results, performance or achievement
could differ materially from those expressed in, or implied by, these forward
looking statements and, accordingly, no assurances can be given that any of the
events anticipated by the forward looking statements will transpire or occur, or
if any of them do so, what benefits, including the amount of proceeds, that
Serica Energy plc will derive there from.



The TSX Venture Exchange has not reviewed and does not accept responsibility for
                   the adequacy or accuracy of this release.



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