Last checked at 1 Mar 2010 07:00
Serica Energy plc
("Serica" or the "Company")
Appointment of Broker
As a result of the acquisition by J.P. Morgan of the shares in J.P. Morgan Cazenove Limited it did not already own, J.P. Morgan Securities Ltd. (which conducts its UK investment banking business as J.P. Morgan Cazenove) has been appointed as Broker to the Company with immediate effect, replacing J.P. Morgan Cazenove Limited.
1 March 2010
Enquiries:
| Serica Energy plc |
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| Paul Ellis, CEO | paul.ellis@serica-energy.com | +44 (0)20 7487 7300 |
| Chris Hearne, CFO | chris.hearne@serica-energy.com | +44 (0)20 7487 7300 |
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| J.P.Morgan Cazenove |
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| Steve Baldwin | steve.baldwin@jpmorgancazenove.com | +44 (0)20 7588 2828 / +44 (0)20 7742 4000 |
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| RBC Capital Markets |
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| Josh Critchley | joshua.critchley@rbccm.com | +44 (0)20 7002 2435 |
| Matthew Coakes | matthew.coakes@rbccm.com | +44 (0)20 7653 4871 |
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| CollegeHill |
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| Nick Elwes | nick.elwes@collegehill.com | +44(0)20 7457 2020 |
| Simon Whitehead | simon.whitehead@collegehill.com | +44 (0)20 74572020 |
To receive Company news releases via email, please contact nick.elwes@collegehill.com and specify "Serica press releases" in the subject line.
Notes to Editors
Serica Energy plc is an oil and gas exploration and production company using specialised geophysical technology to create value through the discovery of new hydrocarbon reserves. Serica is based in London, England, and holds exploration and production licences principally in the UK North Sea and East Irish Sea, the Atlantic Margins of Ireland and Morocco and in Indonesia. The Company's key producing and development assets are a 25% interest in the producing Kambuna field offshore Indonesia and a 50% stake in the UK Central North Sea Columbus field, under development.
Serica's business objective centres on building shareholder value through successful exploration and appraisal drilling. Serica is also focused on improving its market liquidity, optimising its risk profile and managing the company's portfolio of opportunities through acquisition and divestment. Serica's strategy involves minimising its exploration drilling costs through promoted farm-outs while retaining high working interests in the potential for exploration success.
Serica has a material 2010 exploration programme, drilling five wells that are targeting a total of around 90 mmboe risked prospective resources net to the Company.
www.serica-energy.com