Serica Energy says shareholders okay fundraising and AIM listing

Toronto Stock Exchange-listed E&P firm Serica Energy PLC, an international oil and gas exploration company with principal activities in the UK North Sea, Indonesia and Spain, announced Wednesday that shareholders, at an Extraordinary General Meeting November 14, approved several resolutions that will facilitate the necessary fundraising for the Company to proceed with its exploration/development programs and seek a listing on the London Stock Exchange's AIM Market.

The AIM listing will complement its current listing on the TSX Venture Exchange.

Serica is the operator in Indonesia?s three exploration blocks, namely Asahan PSC Block, Glagah-Kambuna TAC, both are located offshore North Sumatra and Biliton PSC in Java Sea. The company has also 10 percent interest in Lematang PSC in South Sumatra. The company plans to drill at least 3 exploration wells in Indonesia in 2006 with budget of around US$30 million. (alex)