Serica Energy Regulatory News (SQZ)

5 Jun 2006 07:00

Serica Energy plc05 June 2006 FOR IMMEDIATE RELEASE: Monday 5th June, 2006 SERICA ENERGY PLC ANNOUNCES PRE-QUALIFICATION FOR NORWEGIAN LICENCE ROUND London, 5th June 2006 - Serica Energy plc (TSX Venture: SQZ; AIM: SQZ) announcesthat it has been pre-qualified by the Norwegian authorities to hold oil and gasexploration and production licences on the Norwegian Continental Shelf. Sericaintends to make applications for licences in the forthcoming APA licence roundthat closes in September, 2006. Serica is one of only three UK based independent exploration companies that arecurrently pre-qualified, amongst the 42 companies that have pre-qualified orre-qualified since the new system began in 2000. Chris Atkinson, Chief Operating Officer, commented: "Pre-qualifying for the next Norwegian APA Round is an important step for Sericasince it gives us access to the significant exploration potential that lies inthe relatively under-explored Norwegian sector of the North Sea, which hassimilar geology to the UK sector and which should respond to the explorationtechniques that Serica has developed successfully there." 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 1079Heather Colpitts heather@chfir.com +1 416 868 1079 Background Notes APA licence rounds are held for allocating exploration blocks in mature parts ofthe Norwegian continental shelf. The process for Awards in Predefined Areas(APA) was adopted by the Norwegian government in 2003 and APA licence rounds areheld annually. Serica is an international oil and gas exploration company with operations inIndonesia, the UK North Sea and Spain. The Company's ordinary shares are listedin London on AIM and on the Canadian TSX Venture Exchange under the symbol"SQZ". The 2005 Annual Report and Accounts are available atwww.serica-energy.com and www.sedar.com. 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