UK Licence Awards
Serica Energy plc
02 February 2007
For immediate release: Friday 2 February 2007
SERICA ENERGY AWARDED THREE UK OFFSHORE LICENCES
London, 2 February 2007 - Serica Energy plc (AIM and TSX Venture: SQZ) is
pleased to announce the award of three licences in the UK 24th Offshore
Licensing Round.
Serica was awarded Block 23/16g in the Central North Sea, Block 48/17d in the
Southern North Sea and Blocks 113/26b and 113/27b (part) in the East Irish Sea.
Serica is the operator of all three licences.
The 23/16g block, in which Serica will have a 50% interest, is just to the north
of the Serica operated 23/16f block which contains the recently announced
Columbus gas-condensate discovery. Serica has already identified a prospect in
the block, using the same advanced technology that it used to identify the
Columbus prospect.
The 48/17d block, in which Serica will have a 100% interest, is adjacent to the
Serica operated 48/16b Licence that contains the Chablis gas discovery.
The Licence in the East Irish Sea covering the 113/26b block and the 113/27b
part block, in which Serica will have a 100% interest, lies immediately north of
the Morecambe Field, the UK's largest gas field, and the area has not been
available for licensing for many years.
Paul Ellis (Chief Executive) said:
'We are extremely pleased with the result of the UK 24th Round awards. Together
with our success in the Norwegian APA 2006 Licensing Round earlier this week,
these awards both strengthen and diversify our portfolio within our Northwest
Europe focus area.
'In the UK, Serica continues to add significant low risk prospects to its
exploration portfolio that are close to existing production facilities and
infrastructure. Given our track record at Columbus of drilling a discovery well
within a year of licence award, we are looking forward to securing a rig to
drill one or more of the prospects on our new acreage in the near future.'
Enquiries:
Serica Energy plc
Paul Ellis, pellis@serica-energy.com +44 (0)20 7487 7300
Chief Executive Officer
Chris Hearne, chearne@serica-energy.com +44 (0)20 7487 7300
Finance Director
Pelham Public Relations -UK
James Henderson james.henderson@pelhampr.com +44 (0)20 7743 6673
Alisdair Haythornthwaite alisdair.haythornthwaite@pelhampr.com +44 (0)20 7743 6676
CHF Investor Relations - Canada
Jan Moir jan@chfir.com +1 416 868 1079
Heather Colpitts heather@chfir.com +1 416 868 1079
Background Notes
Serica Energy plc is an international oil and gas exploration company with
operations in Indonesia, the UK and Norwegian North Sea, Spain, Ireland and
Vietnam.
On 31 January 2007 the Company announced the award of a 20% interest in both of
the two licences that it applied for in Norway's 2006 Awards in Predefined Areas
('APA') Licence Round. The two offshore licences lie in the Egersund Basin,
about 120 kilometres southwest of Stavanger, and contain three undeveloped oil
discoveries.
The Company's ordinary shares are listed in London on AIM and on the Canadian
TSX Venture Exchange under the symbol 'SQZ'. The 2005 Annual Report and Accounts
can be obtained from the Company's web-site www.serica-energy.com and at
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.
To receive Company news releases via email, please contact heather@chfir.com and
specify 'Serica press releases' in the subject line.
This information is provided by RNS
The company news service from the London Stock Exchange
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