OilVoice - Serica Completes Sale of Assets in South East Asia

Serica Completes Sale of Assets in South East Asia

Monday, January 25, 2010

Serica Energy plc confirms that it has now completed the sale announced on 7 December of certain of its interests in South East Asia to KrisEnergy Limited.

The cash amounts received by Serica total US$105.4 million including base consideration plus working capital and interim period adjustments.

Serica's interests in Indonesia now comprise a 25% interest in the Kambuna field, a 30% interest in the Kutai PSC and a 100% interest in the East Seruway PSC. The Company no longer holds any interests in Vietnam.

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