Director/PDMR Shareholding

Serica Energy plc
23 May 2006



FOR IMMEDIATE RELEASE: Thursday, 23 May, 2006



             SERICA ENERGY PLC ANNOUNCES DIRECTOR/HOLDING CHANGES;
               INCREASE IN DIRECTORS' HOLDINGS OF 961,876 SHARES


London, 23 May 2006 - Serica Energy plc (TSX Venture: SQZ; AIM: SQZ) announces
that on 23 May 2006 the beneficial shareholdings of Antony Craven Walker and
Neil Pike in the Company were increased by the exercise of Warrants over
1,521,876 and 100,000 shares respectively.  On the same date, Neil Pike
transferred ownership of 10,000 shares and Christopher Atkinson reduced his
holding by 650,000 shares from 5,389,315 shares to 4,739,315 shares.  As a
result of these transactions the beneficial shareholdings of Directors of the
Company have increased by 961,876 shares.  Details of these transactions are set
out below:


Name of Director:                             Antony Craven Walker
Date of Disclosure:                           23 May 2006
Nature of Transaction:                        Exercise of Warrants
No. of Shares Acquired:                       1,521,876
No. of Shares Disposed:                       0
Class of Share:                               Ordinary US$0.10 Shares
Price of Shares Acquired:                     CDN$ 1.20
Previous No. of Ordinary Shares:              3,043,750
Revised No. of Ordinary Shares:               4,565,626

Name of Director:                             Neil Pike
Date of Disclosure:                           23 May 2006
Nature of Transaction:                        Exercise of Warrants and Transfer of Shares
No. of Shares Acquired:                       100,000
No. of Shares Disposed:                       10,000
Class of Share:                               Ordinary US$0.10 Shares
Price of Shares Acquired:                     CDN$ 1.20
Price of Shares Disposed:                     0p
Previous No. of Ordinary Shares held:         200,000
Revised No. of Ordinary Shares held:          290,000

Name of Director:                             Christopher Atkinson
Date of Disclosure:                           23 May 2006
Nature of Transaction:                        Sale of Shares
No. of Shares Acquired:                       0
No. of Shares Disposed:                       650,000
Class of Share:                               Ordinary US$0.10 Shares
Price of Shares Disposed:                     93p
Previous No. of Ordinary Shares held:         5,389,315
Revised No. of Ordinary Shares held:          4,739,315

Enquiries:


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

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

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]



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                   the adequacy or accuracy of this release.



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