Serica Energy secures drilling rig for Columbus appraisal



    LONDON, UK, March 19 /CNW/ - Serica Energy plc (AIM and TSX Venture: SQZ)
is pleased to announce that it has secured the use of the SEDCO 704
semi-submersible drilling rig for appraisal wells on the Columbus prospect, in
Central North Sea Block 23/16f.
    The rig has been contracted through AGR Peak Group and Serica will have
the first two slots in the programme, with drilling due to commence in Q3
2007. Serica is the operator of the licence.
    Serica will initially drill a vertical appraisal well and, depending upon
the outcome, then intends to sidetrack the well to drill and test a horizontal
development well.
    The Columbus appraisal wells follow the successful exploration well,
announced in December 2006, which tested at a rate of 17.5 million scfd and
1,000 bopd of condensate.

    Paul Ellis, Chief Executive, said:
    "We are pleased to have already secured a drilling rig for Columbus
appraisal wells. The Columbus discovery was made in December 2006, less than a
year after the award of the licence, and we are looking forward to confirming
the field's potential with early appraisal drilling. We also expect to drill
and complete a horizontal section in order to carry out a high rate production
test."

    Correction to press release of 15 March 2007
    On 15 March 2007 Serica announced a farm-out of half of its 90% interest
in the Biliton Block to Nations Petroleum, a subsidiary of Nations Petroleum
Company Limited, which was incorrectly referred to as Nations Energy Company
Limited.

    Background Notes

    Serica Energy plc is an international oil and gas exploration company
with operations in the UK North Sea, Norway, Ireland, Spain, Indonesia and
Vietnam. The Company's ordinary shares are listed in London on AIM and on the
Canadian TSX Venture Exchange under the symbol "SQZ". The 2005 Annual Report
and Accounts can be obtained from the Company's web-site www.serica-energy.com
and at www.sedar.com.

    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 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
heather@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, Chief
Executive Officer, pellis@serica-energy.com, +44 (0)20 7487 7300; Chris
Hearne, Finance Director, chearne@serica-energy.com, +44 (0)20 7487 7300,
Pelham Public Relations - UK, James Henderson, james.henderson@pelhampr.com,
+44 (0)20 7743 6673; Alisdair Haythornthwaite,
alisdair.haythornthwaite@pelhampr.com, +44 (0)20 7743 6676; CHF Investor
Relations - Canada, Jan Moir, jan@chfir.com, (416) 868-1079; Heather Colpitts,
heather@chfir.com, (416) 868-1079; JPMorgan Cazenove, Steve Baldwin, +44 (0)
20 7588 2828

Organization Profile

SERICA ENERGY PLC

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890