Serica Energy Regulatory News (SQZ)

31 Jul 2006 16:00

Serica Energy plc31 July 2006 FOR IMMEDIATE RELEASE: 31st July, 2006 SERICA ENERGY PLC ANNOUNCES AWARD OF BLOCK 06/94 OFFSHORE VIETNAM London, 31 July 2006 - Serica Energy plc (TSX Venture: SQZ; AIM: SQZ) announcesthat it has been conditionally awarded Block 06/94 in the Nam Con Son Basinoffshore south Vietnam. Serica and its two partners, Lundin Petroleum and PearlEnergy, will each have a 33.33% interest in the Block, which covers an area ofaround 4100 square kilometers and will be operated by Pearl. Block 06/94 lies approximately 350 kilometres offshore and is the part of Block06/1 which British Petroleum was obliged to relinquish in 1994 after retainingthe 2 trillion cubic feet Lan Tay and Lan Do gas fields for development. TheLan Do gas field commenced gas production in 2002 through a pipeline to VungTau, near Ho Chi Minh City (formerly Saigon). Chris Atkinson, Chief Operating Officer, commented: "This exciting new project offshore Vietnam is the first step in the expansionof our interests in South East Asia and has been made possible by theintroduction of new technical expertise into Serica and through the synergies inour partnership with Pearl and Lundin. Block 06/94 is a highly prospective areasurrounding the Lan Tay and Lan Do gas fields and we hope to identify severalpotentially commercial prospects within the Block." 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. Lundin Petroleum AB is an independent Swedish oil and gas exploration andproduction company with assets in Albania, France, Indonesia, Iran, Ireland,Netherlands, Nigeria, Norway, Sudan, Tunisia, United Kingdom and Venezuela. Pearl Energy Ltd is a Singapore-based oil and gas company engaged in theexploration, development and production of oil and gas exclusively in SoutheastAsia. 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