Serica Energy plc Erskine Operational Update (0058J)
September 06 2016 - 2:00AM
UK Regulatory
TIDMSQZ
RNS Number : 0058J
Serica Energy plc
06 September 2016
Serica Energy plc ("Serica" or the "Company")
Erskine Operational Update
London, 6 September 2016 - Serica Energy plc (AIM: SQZ) provides
the following operations update:
Further to previous announcements, Lomond platform operator
Shell has advised that the issues concerning the re-commissioning
of the Lomond export facilities have been resolved and Erskine oil
and gas production resumed on 29 August. This follows the reported
work to clear a blockage in the Lomond to Everest condensate export
line and the summer maintenance programme on the Lomond
platform.
Since restarting, production has averaged over 3,000 boe per day
net to Serica, with a peak rate of over 5,000 boe on one day
demonstrating the strong capability of the reservoir. Fluctuations
in rates have been due to some restrictions on the Forties Pipeline
System with production over the remainder of the year expected to
be in the range of 2,500 to 3,000 boe per day, net to Serica.
Regulatory
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
Technical Information
The technical information contained in the announcement has been
reviewed and approved by Clara Altobell, Head of Operations at
Serica Energy plc. Clara Altobell (MSc in Petroleum Engineering
from Imperial College, London) has 20 years of experience in oil
& gas exploration, production and development and is a member
of the Society of Petroleum Engineers (SPE) and the Petroleum
Exploration Society of Great Britain (PESGB).
Enquiries:
Serica Energy plc
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+44 (0)20 7487
Tony Craven Walker tony.cravenwalker@serica-energy.com 7300
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Peel Hunt
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+44 (0)20 7418
Richard Crichton richard.crichton@peelhunt.com 8900
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+44 (0)20 7418
Ross Allister ross.allister@peelhunt.com 8900
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Instinctif
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+44 (0)7831
David Simonson david.simonson@instinctif.com 347222
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+44 (0)20 7457
George Yeomans george.yeomans@instinctif.com 2020
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Notes to Editors
Serica Energy is an oil and gas exploration and production
company with exploration, development and production assets in the
UK and exploration interests in the Atlantic margins offshore
Ireland and West Africa. The Company is in partnership with other
companies in its licences offshore UK, Ireland, Morocco and
Namibia. Further information on the Company can be found at
www.serica-energy.com.
The Company is listed on the AIM market of the London Stock
Exchange under the ticker SQZ and is a designated foreign issuer on
the TSX. To receive Company news releases via email, please contact
serica@instinctif.com and specify "Serica press releases" in the
subject line.
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:
geological, geophysical and technical risk, 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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