LONDON, March 11 /CNW/ - Serica Energy plc ("Serica") is pleased to
announce that Jonathan Cartwright is joining the Board as a non-executive
director with effect from 27 March, 2007.
Jonathan is Finance Director of Caledonia Investments plc which owns 13%
of the Company's ordinary shares. He is also on the Board of Bristow Group
Inc., one of the world's leading providers of helicopter services to the
offshore oil and gas industry. From 1984 until 1989 he held a variety of
positions at Hanson PLC, including Group Financial Controller and director of
various subsidiaries. From 1983 to 1984 he served as Finance Director of
Transworld Petroleum (U.K.) Limited and, from 1980 to 1983, he served as Group
Controller of Shulton (GB) Limited, a subsidiary of American Cyanamid Group.
Jonathan is a Chartered Accountant and, from 1975 to 1980, was with Peat
Marwick, a predecessor of KPMG LLP.
Tony Craven Walker, Chairman, said that,
"I am delighted that Jonathan has agreed to join Serica's Board as a
non-executive director. His contribution will be of particular value
as we enter a period which we believe is likely to see consolidation
in the UK independent oil sector aimed at accelerating shareholder
return. The experience that Jonathan brings to Serica at this time,
and as we bring our discoveries closer to production, will be
invaluable. We look forward to welcoming him to the Board."
Serica Energy plc is an international oil and gas exploration company
with operations in the UK, Norway, Spain, Ireland, Indonesia and Vietnam. It
is currently developing a gas-condensate field in Indonesia (the Kambuna
field) and appraising a gas-condensate discovery in the UK North Sea (the
The Company's ordinary shares are listed in London on AIM and on the
Canadian TSX Venture Exchange under the symbol "SQZ". The 2006 Annual Report
and Accounts can be obtained from the Company's web-site www.serica-energy.com
and at www.sedar.com.
Information required to be disclosed pursuant to Schedule 2(g) of the AIM
Jonathan Cartwright is Finance Director of Caledonia Investments plc
which owns 13% of Serica's ordinary shares. He is also on the Board of Bristow
Group Inc. and Bristow Aviation Holdings Limited and was on the Boards of
Bristow Helicopter Group Limited (resigned June 2006), KLM Cityhopper UK Ltd
(resigned December 2004) and The Edinburgh Crystal Glass Company Limited
(resigned September 2006). The Edinburgh Crystal Glass Company Limited was put
into administration in July 2006.
From 1984 until 1989 Jonathan Cartwright held a variety of positions at
Hanson PLC, including Group Financial Controller and director of various
subsidiaries. From 1983 to 1984 he served as Finance Director of Transworld
Petroleum (U.K.) Limited and, from 1980 to 1983, he served as Group Controller
of Shulton (GB) Limited, a subsidiary of American Cyanamid Group. Jonathan
Cartwright is a Chartered Accountant and, from 1975 to 1980, was with Peat
Marwick, a predecessor of KPMG LLP.
Jonathan Cartwright is, or has been, a director of the following
wholly-owned subsidiaries of Caledonia Investments plc: Buckingham Gate
Limited; Caledonia Financial Limited; Caledonia General Investments Limited;
Caledonia GP Distribution Limited; Caledonia Group Services Limited; Caledonia
Industrial and Services Limited; Caledonia Treasury Limited; Caledonia
Industrial Limited (resigned April 2003); Caledonia Settlement Limited
(resigned December 2007); Cayzer Property Development Limited (resigned May
2003); Cayzer Property Investments Limited (resigned May 2003); and Cayzer
Property Management Limited (resigned May 2003).
There is no further information required to be disclosed pursuant to
Schedule 2(g) of the AIM Rules.
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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