Serica Energy Regulatory News (SQZ)

29 Jun 2006 07:00

Serica Energy plc29 June 2006 FOR IMMEDIATE RELEASE: Thursday 29th June, 2006 SERICA ENERGY PLC SECURES DRILLING RIG FOR INDONESIA London, 29th June 2006 - Serica Energy plc (TSX Venture: SQZ; AIM: SQZ)announces that a letter of intent has been executed between a wholly-ownedsubsidiary of Serica Energy plc and PT Lins Petrotama Energi for the use of theSeadrill 5 jack-up drilling rig for four wells offshore north Sumatra,Indonesia. It is anticipated that this continuous drilling programme willcommence in the first quarter of 2007. Paul Ellis, Chief Executive, commented: "As stated at our recent AGM, Serica is moving forward rapidly on thedevelopment of its gas fields in the Asahan and Glagah-Kambuna blocks offshorenorth Sumatra and this rig contract demonstrates our ability to source theequipment we need despite the present intense level of oil industry activity." Enquiries: Serica Energy plcPaul Ellis, pellis@serica-energy.com +44 (0)20 7487 7300 Chief Executive OfficerChris Hearne, chearne@serica-energy.com +44 (0)20 7487 7300 Finance Director Pelham Public Relations -UKJames Henderson james.henderson@pelhampr.com +44 (0)20 7743 6673Alisdair Haythornthwaite alisdair.haythornthwaite@pelhampr.com +44 (0)20 7743 6676 CHF Investor Relations - CanadaJan Moir jan@chfir.com +1 416 868 1079 x237Heather Colpitts heather@chfir.com +1 416 868 1079 x223 Background Notes Serica Energy plc is an international oil and gas exploration company withoperations in Indonesia, the UK North Sea and Spain. The Company's ordinaryshares are listed in London on AIM and on the Canadian TSX Venture Exchangeunder the symbol "SQZ". The 2005 Annual Report and Accounts are available atwww.serica-energy.com and www.sedar.com. PT Lins Petrotama Energi is the Indonesian agent for Seadrill Limited, aninternational drilling company with rigs currently operating in Norway, WestAfrica and Asia. 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