Serica announces Tuong VI-1X exploration well results



    LONDON, June 26 /CNW/ - Serica Energy plc ("Serica" or the "Company")
announces that the exploration well 06/94-TV-1X (Tuong Vi-1X) offshore Vietnam
has reached a target depth of 2,700 metres.
    The primary target of the well was the oil potential of the Mio-Oligocene
Dua and Cau Formation sandstones. Wireline logs acquired to date indicate that
no significant hydrocarbons are present in good quality sands in the objective
section. The well is being plugged and abandoned.
    The well was drilled using Diamond Offshore's semi-submersible rig, the
Ocean General.
    Serica has a 10% carried interest in the 06/94 Production Sharing
Contract.
    Serica CEO Paul Ellis said: "Although it is disappointing that our first
well in Vietnam did not encounter commercial hydrocarbons, we are encouraged
that a new oil play in the south-eastern part of Block 06/94 has been opened
up by the oil discovery announced this week by Premier Oil in Block 07/03, 25
kilometres to the south of Block 06/94."

    
                         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 therefrom.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

    To receive Company news releases via email, please contact
catarina@chfir.com and specify "Serica press releases" in the subject line.

    %SEDAR: 00022686E




For further information:

For further information: Enquiries: Serica Energy plc: Paul Ellis, CEO,
paul.ellis@serica-energy.com, +44 (0)20 7487 7300; Chris Hearne, CFO,
chris.hearne@serica-energy.com, +44 (0)20 7487 7300; JPMorgan Cazenove: Steve
Baldwin, steve.baldwin@jpmorgancazenove.com, +44 (0)20 7588 2828; Tristone
Capital Limited: Majid Shafiq, mshafiq@tristonecapital.com, +44 (0)20 7355
5872; Pelham Public Relations: Philip Dennis, philip.dennis@pelhampr.com, +44
(0)20 7337 1516; Andy Cornelius, andy.cornelius@pelhampr.com, +44 (0)20 7337
1514; CHF - Canada: Cathy Hume, cathy@chfir.com, (416) 868-1079; Catarina
Cerqueira, catarina@chfir.com, (416) 868-1079

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