Serica Announces EGM Result

Serica Energy announced that the resolutions proposed at the Company's EGM held on Friday 4 January 2008 relating to the placing of new ordinary shares were duly passed by shareholders.

A total of 24,770,354 new ordinary shares have been placed with institutional and other investors on behalf of the Company by JPMorgan Cazenove and Tristone Capital. Total funds raised for the Company are approximately US$52 million before expenses.

Tony Craven Walker, Chairman, subscribed for 478,847 new ordinary shares which will take his aggregate holding to 3.0% of the Company's enlarged issued voting share capital. Steve Theede, non executive director, subscribed for 238,100 new ordinary shares which will take his aggregate holding to 0.4% of the Company's enlarged issued voting share capital. Ian Vann, non executive director, subscribed for 24,510 new ordinary shares which will take his aggregate holding to 0.02% of the Company's enlarged issued voting share capital.

Dealings in the new ordinary shares are expected to commence today.

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