Offshore staff

LONDON -- Serica Energy has completed testing of well 23/16f-11 on the Columbus structure in the central North Sea. The results confirm a potentially commercial gas and condensate reservoir.

The near-vertical well encountered a gross gas column of at least 38 m (125 ft) in Paleocene Forties sands. Average stabilized production rates on a 56/64-in. choke were 17.5MMcf/d of gas and 1,060b/d of 47.5deg API condensate. Wellhead flowing pressure was 8.27 MPa (1,200 psi), with an inert gas content below 2%.

Serica and its partners are currently determining the extent of an appraisal drilling program in 2007, to bring the field into production as soon as possible. Columbus lies close to existing production infrastructure.

12/21/2006