SOURCE: Serica Energy plc

October 20, 2014 02:00 ET

Serica Energy plc Announces Update on Sidi Moussa Operations

LONDON, UNITED KINGDOM--(Marketwired - Oct 20, 2014) - Serica Energy plc (TSX: SQZ) (LSE: SQZ)

Serica Energy plc ("Serica" or the "Company")

Serica provides update on Sidi Moussa Operations

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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Serica Energy plc    
Tony Craven Walker,
Chairman & CEO +44 (0)20 7487 7300
Mitch Flegg, COO +44 (0)20 7487 7300
Chris Hearne, CFO +44 (0)20 7487 7300

Peel Hunt
Richard Crichton +44 (0)20 7418 8900
Charles Batten +44 (0)20 7418 8900

David Simonson +44 (0)20 7457 2020
Catherine Wickman +44 (0)20 7457 2020

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