Serica farms out East Irish Sea blocks

Serica Energy plc has completed a farm out of UK East Irish Sea blocks 113/26b and 113/27c, License P.1482, with Centrica through its subsidiary Hydrocarbon Resources Ltd (HRL).

Offshore staff

LONDON –Serica Energy plc has completed a farm out of UK East Irish Sea blocks 113/26b and 113/27c, License P.1482, with Centrica through its subsidiary Hydrocarbon Resources Ltd (HRL).

HRL acquired an operated 45% interest in the license, with Serica retaining 20%, in consideration for HRL bearingSerica’s share of costs associated with the drilling of an exploratory well. In turn, HRL will obtain 15% interest and operatorship in the adjacent block 113/22a, License P. 2124 that was awarded in the 27th offshore licensing award.

The equity interests over the two licenses are now aligned.

The two blocks hold the Doyle gas prospect, which is ready to drill. The site survey of the prospect is completed and drilling preparations are under way.

8/7/14

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