22nd Aug 2006 12:00
Serica Energy plc22 August 2006 SERICA ENERGY PLC ANNOUNCES EXERCISE OF WARRANTS London, 22 August 2006 - Serica Energy plc (AIM and TSX Venture: SQZ) announcesthe issue of 5,739,425 new ordinary shares following the exercise of warrants. The exercise of these warrants represents a 100% take-up of the original6,875,000 warrants issued at a price of Cdn$1.20, expiring 6 August 2006.1,135,575 of the warrants had been exercised prior to 30 June 2006. Theproceeds will be directed primarily towards the Company's extensive explorationand appraisal drilling programme in the UK North Sea and Indonesia and on itsdevelopment projects in Indonesia. Paul Ellis (Chief Executive Officer) commented: "I am pleased that all warrant holders chose to exercise their warrants, showingsupport for the Company's progress and excitement about the upcoming explorationand appraisal drilling programmes in the UK North Sea and Indonesia." Background Notes The warrants were issued in connection with a financing by Serica in November2004. The Company now has 150,537,956 issued shares and 157,181,456 on a fullydiluted basis. The Company has no further warrants outstanding. Serica Energy plc is an international oil and gas exploration company withoperations in Indonesia, the UK North Sea and Spain. The Company's ordinaryshares are listed in London on AIM and on the Canadian TSX Venture Exchangeunder the symbol "SQZ". The 2005 Annual Report and Accounts are available atwww.serica-energy.com and www.sedar.com. Enquiries: Serica Energy plcPaul Ellis, [email protected] +44 (0)20 7487 7300 Chief Executive OfficerChris Hearne, [email protected] +44 (0)20 7487 7300 Finance Director Pelham Public Relations -UKJames Henderson [email protected] +44 (0)20 7743 6673Alisdair Haythornthwaite [email protected] +44 (0)20 7743 6676 CHF Investor Relations - CanadaJan Moir [email protected] +1 416 868 1079 x237Heather Colpitts [email protected] +1 416 868 1079 x223 Forward Looking Statements This disclosure contains certain forward looking statements that involvesubstantial known and unknown risks and uncertainties, some of which are beyondSerica Energy plc's control, including: the impact of general economicconditions where Serica Energy plc operates, industry conditions, changes inlaws and regulations including the adoption of new environmental laws andregulations and changes in how they are interpreted and enforced, increasedcompetition, the lack of availability of qualified personnel or management,fluctuations in foreign exchange or interest rates, stock market volatility andmarket valuations of companies with respect to announced transactions and thefinal valuations thereof, and obtaining required approvals of regulatoryauthorities. Serica Energy plc's actual results, performance or achievementcould differ materially from those expressed in, or implied by, these forwardlooking statements and, accordingly, no assurances can be given that any of theevents anticipated by the forward looking statements will transpire or occur, orif any of them do so, what benefits, including the amount of proceeds, thatSerica 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 [email protected] and specify "Serica press releases" in the subject line. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Serica Energy