Serica Energy Regulatory News (SQZ)

1 Dec 2006 14:30

Serica Energy plc01 December 2006 FOR IMMEDIATE RELEASE: 1 December, 2006 SERICA ENERGY PLC CHANGE IN ROLE OF EXECUTIVE DIRECTOR London, 1 December, 2006 - Serica Energy plc (AIM and TSX Venture: SQZ)announces that, with effect from 31st December 2006, Chris Atkinson will betaking on the new role of Advisor to the Board on exploration matters and willbe relinquishing his responsibility as Chief Operating Officer and a Director ofthe Group. This change is being made to meet Chris's wish to devote more of his attentionto Serica's new venture exploration activities and is in line with operationalrequirements resulting from drilling success and the increasing impact of fieldappraisal and development activities. Chris's new role as Advisor to the Board on exploration matters will enable himto focus on new exploration opportunities for the Company whilst it builds upits appraisal and development programmes on existing discoveries. He willcontinue to be based in Singapore. Chris Atkinson said "Little did I realise nearly seven years ago when I startedout as a founder of the Group that the small spark of an idea together with agreat deal of commitment would have resulted in the development of the companywe now know. The change of role back into pure exploration allows me to returnto my roots and concentrate more where my true abilities in this business lie.With my continued efforts on the exploration front and the support of the strongexisting management team I believe Serica will continue to go from strength tostrength". Tony Craven Walker, Chairman of the Board, said "Chris has been instrumental inbringing the Company to this point in its development. The role of ExplorationAdvisor to the Board will allow him to spend more of his time on explorationaffairs as Serica commences a new phase in its growth strategy followingrecently announced drilling success. Going forward the Company will beinvolved in field appraisal in the North Sea as well as the appraisal anddevelopment of fields in Indonesia and continuing our ongoing explorationprogramme. Chris will be providing the full benefit of his considerableexploration expertise to this programme as we enter what promises to be anexciting new period". Background Notes Serica Energy plc is an international oil and gas exploration company withoperations in Indonesia, the UK North Sea, Spain, Ireland and Vietnam. TheCompany's ordinary shares are listed in London on AIM and on the Canadian TSXVenture Exchange under the symbol "SQZ". The 2005 Annual Report and Accounts areavailable at www.serica-energy.com and www.sedar.com. Enquiries: Serica Energy plcTony Craven Walker, tony.cravenwalker@serica-energy.com +44 (0)20 7487 7300ChairmanPaul Ellis, pellis@serica-energy.com +44 (0)20 7487 7300Chief Executive Officer Pelham Public Relations -UKJames Henderson james.henderson@pelhampr.com +44 (0)20 7743 6673 Alisdair Haythornthwaite alisdair.haythornthwaite@pelhampr.com +44 (0)20 7743 6676 CHF Investor Relations - CanadaJan Moir jan@chfir.com +1 416 868 1079 x237 Heather Colpitts heather@chfir.com +1 416 868 1079 x223 Forward Looking Statements This disclosure contains certain forward looking statements that involvesubstantial known and unknown risks and uncertainties, some of which are beyondSerica Energy plc's control, including: the impact of general economicconditions where Serica Energy plc operates, industry conditions, changes inlaws and regulations including the adoption of new environmental laws andregulations and changes in how they are interpreted and enforced, increasedcompetition, the lack of availability of qualified personnel or management,fluctuations in foreign exchange or interest rates, stock market volatility andmarket valuations of companies with respect to announced transactions and thefinal valuations thereof, and obtaining required approvals of regulatoryauthorities. Serica Energy plc's actual results, performance or achievementcould differ materially from those expressed in, or implied by, these forwardlooking statements and, accordingly, no assurances can be given that any of theevents anticipated by the forward looking statements will transpire or occur, orif any of them do so, what benefits, including the amount of proceeds, thatSerica 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. This information is provided by RNS The company news service from the London Stock Exchange