Serica Energy plc ("Serica" or the "Company") Acquisition of 18% Interest in UK Producing Erskine Field From BP

LONDON, UNITED KINGDOM--(Marketwired - Jun 17, 2014) - Serica Energy plc (LSE: SQZ) (TSX: SQZ) announces that it has agreed to acquire an 18% interest in UK blocks 23/26a (Area B) and 23/26b (Area B) containing the Erskine Field, located in the UK Central North Sea, from BP Exploration Operating Company Limited and Britoil Limited both wholly owned subsidiaries of BP plc (together "BP") for US$11.1 million in cash plus 27 million new Ordinary Shares in the Company subject to certain working capital adjustments on completion. The transaction is inter alia conditional on consent of the other participants in the Erskine Field and related agreements and on approval by the Department of Energy and Climate Change.

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