Contact Information: Enquiries: Serica Energy plc Paul Ellis CEO +44 (0)20 7487 7300 Chris Hearne CFO +44 (0)20 7487 7300 J.P.Morgan Cazenove Steve Baldwin +44 (0)20 7588 2828 Pelham Public Relations Philip Dennis +44 (0)20 7337 1516 Andy Cornelius +44 (0)20 7337 1514
LONDON--(Marketwire - November 16, 2009) - Serica Energy plc (AIM : SQZ ) (TSX-V : SQZ ) is pleased
to announce that it has today entered into a new US$100 million senior
secured revolving credit facility to replace its previous facility of a
similar amount. The new facility, which has been arranged with J.P.Morgan
plc, Bank of Scotland plc and Natixis as Mandated Lead Arrangers, is for a
term of three years. The facility is principally to refinance the Company's
outstanding borrowings on the Kambuna field which commenced production of
gas and condensate in August of this year. It will also be available to
finance the appraisal and development of the Columbus field and for general
corporate purposes.
Further information on the Company is available on its website:
www.serica-energy.com
Forward Looking Statements
This disclosure contains certain forward looking statements that involve
substantial known and unknown risks and uncertainties, some of which are
beyond Serica Energy plc's control, including: the impact of general
economic conditions where Serica Energy plc operates, industry conditions,
changes in laws and regulations including the adoption of new environmental
laws and regulations and changes in how they are interpreted and enforced,
increased competition, the lack of availability of qualified personnel or
management, fluctuations in foreign exchange or interest rates, stock
market volatility and market valuations of companies with respect to
announced transactions and the final valuations thereof, and obtaining
required approvals of regulatory authorities. Serica Energy plc's actual
results, performance or achievement could differ materially from those
expressed in, or implied by, these forward looking statements and,
accordingly, no assurances can be given that any of the events anticipated
by the forward looking statements will transpire or occur, or if any of
them do so, what benefits, including the amount of proceeds, that Serica
Energy plc will derive therefrom.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
To receive Company news releases via email, please contact
malika.shermatova@pelhampr.com and specify "Serica press releases" in the
subject line.