Serica subsidiary offers Java Sea block equity

Asia Petroleum Development (Biliton) Ltd, a wholly owned subsidiary of Serica Energy Plc, is offering participating equity in the Biliton PSC offshore West Java.

Offshore staff

LONDON -- Asia Petroleum Development (Biliton) Ltd, a wholly owned subsidiary of Serica Energy Plc, is offering participating equity in the Biliton PSC offshore West Java.

Serica holds a 45% operating position in this exploration block, located 350 km (217 mi) northeast of Jakarta and 150 km (93 mi) south of Kalimantan in less than 50 m (164 ft) of water. Early evaluation work indicates a similarity with oil fields in the nearby Asri and Ardjuna basin.

Major equity is being offered, with operatorship available. Two years of the exploration period is left on the license.

07/10/2008

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