Serica, Biliton Offer Major Equity in Java Sea, Offshore Indonesia


Biliton Basin PSC
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Indigopool reports that Asia Petroleum Development (Biliton) Ltd, a wholly-owned subsidiary of Serica Energy plc, is seeking expressions of interest from parties who wish to acquire participating equity in the Biliton PSC offshore West Java. Serica Energy currently hold a 45% operating position in this promising exploration block, located 350km northeast of Jakarta and 150km south of Kalimantan in less than 50m of water. Early evaluation work indicates a strong analogy with prolific oil fields in the nearby Asri and Ardjuna Basin.

Major equity is being offered - with operatorship available - in this frontier exploration play with two years of the exploration period left on the license. One day Physical Data Room appointments will be available at Serica Energy's Jakarta office following execution of a Confidentiality Agreement.

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