Serica Energy plc Announces Update on Sidi Moussa Operations

20.10.2014  |  Marketwired

London, 20 October 2014 - Serica Energy plc (TSX: SQZ; LSE: SQZ) confirms that the SM-1 well in the Sidi Moussa block offshore Morocco has reached a total depth of 2,825m MDBRT (measured depth below rotary table) and encountered oil during drilling operations. Preparations are underway to perform cased hole testing.

Serica has a 5% working interest in the Sidi Moussa block. Its partners are Genel Energy (Operator) and San Leon Energy.

Tony Craven Walker, Chairman and CEO of Serica said, "We are at a very early stage and the presence of hydrocarbons in this frontier block will require further evaluation. At this stage it is premature to make any definitive technical interpretation. The planned well test is being designed to achieve this objective as far as possible and an update will be released once these operations are concluded."

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Enquiries:

Serica Energy plc
Tony Craven Walker, Chairman & CEO
tony.cravenwalker@serica-energy.com
+44 (0)20 7487 7300

Mitch Flegg, COO
mitch.flegg@serica-energy.com
+44 (0)20 7487 7300

Chris Hearne, CFO
chris.hearne@serica-energy.com
+44 (0)20 7487 7300

Peel Hunt
Richard Crichton, richard.crichton@peelhunt.com
Charles Batten, charles.batten@peelhunt.com
+44 (0)20 7418 8900

Instinctif
David Simonson, david.simonson@instinctif.com
Catherine Wickman, catherine.wickman@instinctif.com
+44 (0)20 7457 2020