LONDON, Sept. 19 /CNW/ - Serica Energy plc (AIM & TSX-V: SQZ) ("Serica"
or "the Company") is pleased to announce an agreement with Hansa Hydrocarbons
Limited ("Hansa") for Hansa to farm-in to Serica's UK licences covering
Block 48/16b and Block 48/17d (the "Licences") in the Southern North Sea.
Completion is subject to the receipt of UK government consent.
Serica currently has a 100% working interest in the Licences. Under the
terms of the farm-out agreement, Hansa will earn a 35% working interest in the
Licences in return for contributing on a promoted basis to the cost of a well
to appraise the Chablis prospect in Block 48/16b, scheduled to commence
drilling in mid October, 2008. Serica will remain as operator and retains the
remaining 65% working interest in the licence.
To meet this drilling programme Serica announces that it has contracted
the Northern Offshore Energy Enhancer jack-up drilling rig to drill the well.
The well to be drilled will appraise the gas-bearing Permian Leman sandstone
reservoir encountered in well 48/16a-2 drilled in 2002 and will be located
approximately two kilometres to the east of the earlier well. The Leman
sandstone is the reservoir for the numerous producing gas fields adjacent to
the Licences. Further information on Serica's Chablis prospect can be found in
the most recent presentation posted on Serica's web-site at
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