Serica Energy Completes Biliton 2005 2D Seismic Program

Serica Energy has completed the 2005 2D seismic survey on its Biliton block (Serica's interest: 90% and Operator). The latest survey was an infill program designed to acquire data over several large structures identified from the 2004 survey. A total of 2,300 kms of 2D seismic data, along with gravity and magnetic data, were acquired during April. The processing and interpretation of the data will now take approximately six months.

Located in the Java Sea, between the islands of Java and Kalimantan, the Biliton Production Sharing Contract (PSC) was signed on December 30, 2003. An initial 2,000 kms of 2D seismic data were acquired over the block in January/February 2004.

The Corporation has recently commenced the tender process to secure a suitable drilling rig to undertake a drilling program on the Biliton block in late 2005/early 2006. At this time, a three-well program is envisaged; however, the results of the seismic program will determine the location and number of wells to be drilled.