REG - Serica Energy PLC - Farm-in to UK North Sea P2530 Licence

Serica EnergyAnnouncement

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RNS Number : 0144G  Serica Energy PLC  04 November 2025

4 November 2025

 

Serica Energy plc

('Serica' or 'the Company')

 

Farm-in to UK North Sea P2530 Licence

 

Serica is pleased to announce that it has reached agreement with Finder Energy
for a 40% interest in the P2530 Licence ('P2530' or 'Licence'), for an initial
consideration of c.£500,000 (c.$650,000). The Licence is currently held by
Finder Energy (60% operated interest) and Dana Petroleum (40% interest).

 

P2530 contains the Wagtail oil discovery and the low-risk Marsh and Bancroft
exploration prospects. The addition of the stake in Wagtail adds an operator
estimated c.8 MMbbls of net 2C Contingent Resources to the Serica portfolio,
enhancing the Company's already attractive organic growth opportunity set.

 

Wagtail is situated north-west of the Triton FPSO and the North Sea Transition
Authority ('NSTA') has recently agreed an extension to the current licence
phase to 31 August 2026. During the extension period, development engineering
feasibility studies will be carried out to confirm its potential integration
into the Triton FPSO and to provide comfort that such a tie-back can be
economically developed. The P2530 joint venture will then be in a position to
decide whether to move onto the next licence phase and commit to drill an
appraisal well, or relinquish the licence with no further commitments by 31
August 2026.

 

Completion of the farm-in is subject to NSTA approval and other required
consents.

 

 

The technical information contained in the announcement has been reviewed and
approved by Carla Riddell, Chief Technical Officer at Serica Energy plc. Ms.
Riddell (B.Sc. Geology from University of Durham University, M.Sc. Palynology
from University of Sheffield) has over 25 years of experience in oil & gas
exploration, development and production and is a Fellow of the Geological
Society of London and Energy Institute.

 

-end-

 

Enquiries:

 

 Serica Energy plc                                                         +44 (0)20 7487 7300
 Martin Copeland (CFO) / Andrew Benbow (Group Investor Relations Manager)

 Peel Hunt (Nomad & Joint Broker)                                          +44 (0)20 7418 8900
 Richard Crichton / David McKeown / Emily Bhasin

 Jefferies (Joint Broker)                                                  +44 (0)20 7029 8000
 Sam Barnett / Cameron Jones

 Vigo Consulting (PR Advisor)                                              +44 (0)20 7390 0230
 Patrick d'Ancona                                                          serica@vigoconsulting.com

 

 

NOTES TO EDITORS

Serica Energy is a British independent oil and gas exploration and production
company with a portfolio of UKCS assets. Serica has a balance of gas and oil
production. The Company is responsible for about 5% of the natural gas
produced in the UK, a key element in the UK's energy transition.

 

Serica's producing assets are focused around two main hubs: the Bruce, Keith
and Rhum fields in the UK Northern North Sea, which it operates, and a mix of
operated and non-operated fields tied back to the Triton FPSO. Serica also has
operated interests in the producing Columbus (UK Central North Sea) and
Orlando (UK Northern North Sea) fields and a non-operated interest in the
producing Erskine field in the UK Central North Sea.

 

Serica has a two-pronged strategy for growth comprising investment in its
existing portfolio and M&A. Further information on the Company can be
found at www.serica-energy.com (http://www.serica-energy.com/) . The
Company's shares are traded on the AIM market of the London Stock Exchange
under the ticker SQZ. To receive news releases via email, please subscribe via
the Company website.

 

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