Serica completes seismic survey offshore Namibia

Offshore staff

LONDON – Serica Energy plc (TSX & AIM: SQZ) has completed the acquisition of 4,180 sq km (1,614 sq mi) of 3D seismic data in its Luderitz basin blocks offshore Namibia.

The survey was done by the Polarcus Nadia using 10-streamers.

“The completion of this extensive survey, only nine months after the award of the license, is an important step in the exploration of this largely unexplored basin,” said Tony Craven Walker, Serica’s chairman and interim CEO. “The data is of exceptional quality and has been acquired in the south east of the license area over a clearly defined prospect which is located in a good setting for potential reservoir development. It is now being processed fully to delineate the prospect and to identify additional prospects associated with locally present channel sands. Initial results are expected to be available around the end of the year and will be amalgamated with regional geological information prior to determining a forward drilling program.”

Serica Energy Namibia B.V. is the operator with 55%. Other participants include Exploration (Luderitz Basin) Ltd., 30%; National Petroleum Corp. of Namibia (Pty) Ltd., 10%, and Indigenous Energy (Pty) Ltd 5%.

10/02/2012

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