Serica Energy Offered 2 Production Licenses In 26th UK Round
04 Januar 2012 - 9:11AM
Dow Jones News
Serica Energy PLC (SQZ.T), an oil and gas exploration,
development and production company with activities in Europe,
Africa and Indonesia, said Wednesday it has been offered a further
two production licenses in the final stage of the 26th round of
U.K. Offshore Licensing announced by the Department of Energy and
Climate Change.
MAIN FACTS:
-Block 110/8 billion in the East Irish Sea has been offered to
Serica as operator with a 100% interest; work commitment comprises
a 3D seismic reprocessing program planned to delineate a gas
prospect which has been provisionally identified in the block.
-Blocks 47/2 billion (Split), 47/3g (Split), 47/7 (Split) and
47/8d (Part) in the Southern North Sea have been offered under a
single license to a group in which Serica has a 37.5% interest;
Centrica PLC (CNA.LN) is operator.
-Blocks 47/2 billion, 47/3g, 47/7 and 47/8d are contiguous part
blocks immediately adjacent to York field, also operated by
Centrica.
-A number of gas prospects have been provisionally identified on
blocks at both Leman (Permian) and Namurian (Carboniferous)
levels.
-Work obligation comprises a 3D seismic survey and reprocessing
of existing seismic data.
-Serica intends to seek a partner to join it in East Irish Sea
Block 110/8 billion with a view to extending exploration program in
this block and has already started discussions.
-Expects Southern North Sea blocks to contain additional gas
reserves which, if proven, can easily be produced through the York
field facilities.
-Shares closed Tuesday at 19.25 pence valuing the company at
GBP34.01 million.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296;
ian.walker@dowjones.com