Serica Energy plc Offshore licence awards in UK 30th Round (1042P)
May 24 2018 - 2:01AM
UK Regulatory
TIDMSQZ
RNS Number : 1042P
Serica Energy plc
24 May 2018
Serica Energy plc ("Serica" or the "Company")
Offshore licence awards in UK 30th Round
London, 24 May 2018 - Serica Energy plc (AIM: SQZ) is pleased to
announce that the Company has provisionally been awarded three new
exploration licence areas on the UK Continental Shelf in the UK's
30(th) Offshore Licensing Round.
Rowallan South - Blocks 22/24f (split) and 22/25c (split),
Serica Energy (UK) Limited: 20% working interest, operator ENI UK.
These blocks lie directly to the south of the Rowallan Prospect, in
which Serica holds a 15% interest and which is due to be drilled
later this year. The blocks are offered on condition of making a
'drill or drop' decision to enter the next phase.
Columbus West - Block 23/21b, Serica Energy (UK) Limited: 50%
working interest, operator Summit Exploration and Production. The
block lies immediately to the west of Serica's Columbus Field,
which is in the advanced stages of development planning. The
proposed work programme contains further seismic reprocessing and a
'drill or drop' decision to enter the next phase.
Skerryvore - Blocks 30/12c (part), 30/13c (split), 30/17h,
30/18c and 30/19c (part), Serica Energy (UK) Limited: 20% working
interest, operator Parkmead. The Skerryvore prospect lies in the
Central North Sea, 60km south of Serica's Erskine field. The
proposed work programme includes shooting new 3D seismic data and a
contingent well decision.
Mitch Flegg, Chief Executive of Serica Energy, commented:
"We are delighted to have been offered the award of these UK
offshore licences. Gaining more acreage in the Rowallan South area
will enhance our position in the event of a discovery during our
planned exploration drilling later this year. The prospects to the
west of Columbus have been identified using advanced seismic
interpretation techniques that give a compelling story to
exploration upside in the area and Serica is ideally positioned for
fast-tracking a development if a well is successful. The Skerryvore
blocks are within our Central North Sea focus area and contain
opportunities at a number of reservoir intervals in a prolific
producing area with a number of export options."
Technical Information
The technical information contained in the announcement has been
reviewed and approved by Clara Altobell, VP Technical at Serica
Energy plc. Clara Altobell (MSc in Petroleum Engineering from
Imperial College, London) has over 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).
Regulatory
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
Enquiries:
Serica Energy
plc
Tony Craven
Walker +44 (0)20 7457
Executive Chairman tony.cravenwalker@serica-energy.com 2020
Mitch Flegg +44 (0)20 7457
CEO mitch.flegg@serica-energy.com 2020
Peel Hunt
+44 (0)20 7418
Richard Crichton richard.crichton@peelhunt.com 8900
+44 (0)20 7418
Ross Allister ross.allister@peelhunt.com 8900
+44 (0)20 7418
James Bavister james.bavister@peelhunt.com 8900
Instinctif
+44 (0)20 7457
David Simonson david.simonson@instinctif.com 2020
+44 (0)20 7457
Catherine Wickman catherine.wickman@instinctif.com 2020
+44 (0)20 7457
George Yeomans george.yeomans@instinctif.com 2020
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 Namibia. Serica holds an 18% non-operated interest in
the Erskine field in the UK Central North Sea.
In November 2017 Serica announced the proposed acquisition of
interests in the Bruce, Keith and Rhum fields in the North Sea and
associated infrastructure from BP. Under the terms of proposed
acquisition Serica will acquire a 36% interest in Bruce, a 34.83%
interest in Keith and a 50% interest in Rhum (collectively the "BKR
Assets"). The deal has an effective date of 1 January 2018 and
completion of acquisition is expected to take place late in the
third quarter of 2018.
Further information on the Company and the proposed acquisition
of the BKR Assets 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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