Serica Energy plc Rowallan Exploration Well Spud (7759L)
December 31 2018 - 1:00AM
UK Regulatory
TIDMSQZ
RNS Number : 7759L
Serica Energy plc
31 December 2018
Serica Energy plc ("Serica" or the "Company")
Rowallan Exploration Well Spud
London, 31 December 2018 - Serica Energy plc (AIM: SQZ) is
pleased to announce the spud of the ENI UK Limited operated
Rowallan exploration well 22/19c-G (Serica 15%). The well is
targeting the high-pressure, high-temperature gas condensate
Rowallan prospect, which comprises a significant structural fault
and dip-closed trap in the east of Block 22/19c in the Central
North Sea. The Ensco 121 heavy duty jack-up rig is being used to
drill the well.
The well is designed to penetrate high-quality sandstones at
both Middle Jurassic and Triassic levels, which are optimally
situated for hydrocarbon charge from the direction of the nearby
Monan and Mungo oil fields. An independent competent person's
report estimates Serica's net Rowallan prospective resources to be
approximately 20 to 60mmboe (P50 and P10 respectively) within block
22/19c.
In the event of success, there is additional upside potential
provided by the nearby Dundonald and Sundrum prospects, which are
geologically similar to Rowallan. The Rowallan prospect may also
extend onto Serica's recently awarded 30(th) Round blocks directly
to the south.
Serica is fully carried for the exploration well, which is
expected to take around 140 days to drill. A further update will be
provided once the well has reached TD and initial results are
known.
Serica's partners in the licence are Eni UK Limited (Operator),
JX Nippon Exploration and Production (U.K.) Limited and Mitsui.
Technical Information
The technical information contained in the announcement has been
reviewed and approved by Clara Altobell, VP Technical at Serica
Energy plc. Clara Altobell (MSc in Petroleum Engineering from
Imperial College, London) has over 20 years of experience in oil
& gas exploration, production and development and is a member
of the Society of Petroleum Engineers (SPE) and the Petroleum
Exploration Society of Great Britain (PESGB).
Regulatory
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
Enquiries:
Serica Energy plc
Tony Craven Walker
Executive Chairman tony.cravenwalker@serica-energy.com +44 (0)20 7457 2020
Mitch Flegg
CEO mitch.flegg@serica-energy.com +44 (0)20 7457 2020
Peel Hunt
Richard Crichton richard.crichton@peelhunt.com +44 (0)20 7418 8900
Ross Allister ross.allister@peelhunt.com +44 (0)20 7418 8900
James Bavister james.bavister@peelhunt.com +44 (0)20 7418 8900
Instinctif
David Simonson david.simonson@instinctif.com +44 (0)20 7457 2020
Catherine Wickman catherine.wickman@instinctif.com +44 (0)20 7457 2020
George Yeomans george.yeomans@instinctif.com +44 (0)20 7457 2020
Notes to Editors
Serica Energy is a British independent oil and gas exploration
and production company with exploration, development and production
assets in the UK and exploration interests in the Atlantic margins
offshore Ireland and Namibia.
Towards the end of 2018, Serica completed transactions which
resulted in Serica UK holding a 98% interest in the Bruce field, a
100% interest in the Keith field and a 50% interest in the Rhum
field and being operator of all three fields and asset
infrastructure.
In addition to a 15% non-operated carried interest in Rowallan,
Serica holds an 18% non-operated interest in the producing Erskine
field in the UK Central North Sea and a 50% operated interest in
the Columbus Development which has been approved by the OGA and is
scheduled to commence development in 2019.
Further information on the Company can be found at
www.serica-energy.com.
The Company's shares are traded on the AIM market of the London
Stock Exchange under the ticker SQZ and the Company is a designated
foreign issuer on the TSX. To receive Company news releases via
email, please subscribe via the Company website.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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