Serica is a British-based independent upstream oil and gas company with operations centred on the UK North Sea where we have the full range of exploration, development and production assets. The main focus is on building a portfolio of properties where the Company can utilise its technical and commercial experience to add value to existing producing assets as well as to explore and develop new reserves.
The Company has proved the success of this model through our producing asset, Erskine, in which we are a partner with Chevron and Chrysaor. We have recently announced the purchase of interests in the Bruce, Keith and Rhum fields where we are also taking over as field operator. These fields are a mixture of late-life and mid-life, largely gas producing assets where further investment can enhance recovery and extend field life.
The Company has the finance, scale, range of operations and technical expertise to both operate and to partner other companies. We seek to expand the value of our business whilst spreading risk and limiting downside exposure and do so both through partnerships and through asset transactions.
With an experienced Board and Management, Serica has the knowledge, reputation and capabilities to drive for value led growth both organically and through value enhancing acquisitions, building on synergies from our existing assets.
Serica is quoted on the London AIM market under the ticker SQZ.
* Net 2P reserves Bruce, Keith, Rhum and Erskine projected at 01/01/18 based on CPRs
** Net 1H 2017 production from Bruce, Keith, Rhum and Erskine. Bruce, Keith and Rhum net production accrues to Serica from 01/01/18
All above assumes completion of Bruce, Keith and Rhum transaction, expected mid 2018