20th Jul 2006 12:00
Serica Energy plc20 July 2006 FOR IMMEDIATE RELEASE: Thursday 20th July, 2006 SERICA ENERGY PLC SECURES DRILLING RIG FOR UK NORTH SEA London, 20th July 2006 - Serica Energy plc ("Serica") (TSX Venture: SQZ; AIM:SQZ) announces that it has secured the use of the Ensco 92 jack-up drilling rigto drill an exploration well to test the "Oak" prospect in UK offshore Block 54/1b. The well will be operated by Peak Well Management Limited on behalf ofSerica. It is anticipated that the well will be drilled in October 2006. Serica holds a100% interest in the Block and has received a number of offers regarding apotential farm-in which are currently being reviewed. Paul Ellis, Chief Executive, commented: "Securing the Ensco 92 rig adds a second well to our 2006 exploration drillingprogramme in the UK North Sea. We now anticipate that in October this year weshall be drilling both the Block 23/16f Columbus prospect in the Central NorthSea and the Block 54/1b Oak prospect in the Southern Gas Basin. We shall alsobe adding further rig time to that which we have already secured for our 2007exploration programme, which includes exploration, appraisal and developmentwells in the UK and Indonesia." 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 Background Notes 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. Peak Well Management Limited is part of The Peak Group which in May 2006 wasacquired by The Ability Group (AGR) of Norway. Ability Group is now establishedas the world's leading independent well operator. 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 forthe adequacy or accuracy of this release. To receive Company news releases via email, please contact [email protected] andspecify "Serica press releases" in the subject line. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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