Serica Announces Operational Update on Columbus

Serica Energy plc ("Serica" or the "Company") (TSX VENTURE:SQZ)(AIM:SQZ)
announces that agreement has been reached with BG International Limited ("BG"),
as operator of the Lomond field, and Dana Petroleum Limited, as operator of the
Arran field (formerly the Barbara and Phyllis fields), whereby BG will carry out
Front End Engineering and Design work ("FEED") for a Bridge Linked Platform
("BLP") that will connect with the Lomond platform and provide gas and
condensate reception facilities for Columbus and Arran production.


The Columbus field, discovered in 2006 in Block 23/16f in the UK Central North
Sea, has now been shown to extend into the adjacent Block 23/21. The licence
holders of both blocks will share the costs of the Columbus portion of FEED for
the BLP and, under a separate agreement, have agreed to share the costs of the
Columbus subsea facilities and to submit a new Columbus Field Development Plan
("FDP") to the UK Department of Energy and Climate Change.


Serica has been appointed the Operator by the Columbus Owners (as defined below)
to manage the development process to the point of project sanction on their
behalf.


FEED is already underway and it is expected that all FEED work will be completed
in the third quarter of 2010 concurrent with FDP preparation and submission.
Terms for the use of Lomond as processing host and export point for the Columbus
produced fluids have reached an advanced stage of negotiation. Project sanction
is programmed for the end of 2010.


The Columbus Owners are: 

In Block 23/16f: Serica Energy (UK) Limited (50%), Endeavour Energy UK Limited
(25%) and EOG Resources United Kingdom Limited (25%). 


In Block 23/21: BG International Limited (83.333%) and Hess Limited (16.667%).

Serica CEO Paul Ellis said: 

"We are pleased to have reached this significant milestone in the Columbus
project. There are many stakeholders in the project and I am encouraged to see
the level of cooperation that has been achieved and am now confident that we can
contribute to the development of the UK's resource base and create value for all
parties, with production from Columbus planned in early 2013."


The technical information contained in the announcement has been reviewed and
approved by Peter Sadler, Chief Operating Officer of Serica Energy plc. Peter
Sadler is a qualified Petroleum Engineer (MSc Imperial College, London, 1982)
and has been a member of the Society of Petroleum Engineers since 1981. 


Notes to Editors

Serica Energy plc is an oil and gas exploration and production company using
specialised geophysical technology to create value through the discovery of new
hydrocarbon reserves. Serica is based in London, England, and holds exploration
and production licences principally in the UK North Sea and East Irish Sea, the
Atlantic Margins of Ireland and Morocco and in Indonesia. The Company's key
producing and development assets are a 25% interest in the producing Kambuna
field offshore Indonesia and a 50% stake in the UK Central North Sea Columbus
field, under development. 


Serica's business objective centres on building shareholder value through
successful exploration and appraisal drilling. Serica is also focused on
improving its market liquidity, optimising its risk profile and managing the
company's portfolio of opportunities through acquisition and divestment.
Serica's strategy involves minimising its exploration drilling costs through
promoted farm-outs while retaining high working interests in the potential for
exploration success.


Forward Looking Statements

This disclosure contains certain forward looking statements that involve
substantial known and unknown risks and uncertainties, some of which are beyond
Serica Energy plc's control, including: the impact of general economic
conditions where Serica Energy plc operates, industry conditions, changes in
laws and regulations including the adoption of new environmental laws and
regulations and changes in how they are interpreted and enforced, increased
competition, the lack of availability of qualified personnel or management,
fluctuations in foreign exchange or interest rates, stock market volatility and
market valuations of companies with respect to announced transactions and the
final valuations thereof, and obtaining required approvals of regulatory
authorities. Serica Energy plc's actual results, performance or achievement
could differ materially from those expressed in, or implied by, these forward
looking statements and, accordingly, no assurances can be given that any of the
events anticipated by the forward looking statements will transpire or occur, or
if any of them do so, what benefits, including the amount of proceeds, that
Serica Energy plc will derive therefrom.


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