REG - Serica Energy PLC - Update: proposed acquisition of UK assets from BP

Serica EnergyAnnouncement

10/11/2025 16:00

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RNS Number : 9286G  Serica Energy PLC  10 November 2025

 

10 November 2025

 

Serica Energy plc

('Serica' or 'the Company')

Update on proposed acquisition of UK North Sea assets from BP

 

Following the announcement on 13 October 2025 that it had signed an agreement
to acquire the entirety of BP's stake in the P111 and P2544 licences, Serica
(AIM:SQZ) announces that one of the licence partners, NEO NEXT, has decided to
take up its rights of pre-emption.

 

Chris Cox, Serica's CEO, stated:

"While this outcome is of course disappointing, it was always known to be a
possibility. Serica continues to actively pursue further M&A
opportunities, as well as progress our attractive organic growth options, with
a goal of diversifying the Company's portfolio of assets, increasing
production, and creating value for shareholders."

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

-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 and the Company is a designated foreign issuer on the
TSX. To receive Company news releases via email, please subscribe via the
Company website.

 

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