Serica is Two for Two in Columbus Field

Serica Energy reports the results of both the Columbus appraisal well 23/16f-12 and the sidetrack well 23/16f-12z in the UK Central North Sea. Both wells are successful appraisals of the Columbus field discovery well 23/16f-11, drilled by Serica and its co-venturers in December 2006.

Well 23/16f-12 was drilled as a vertical well approximately three kilometers north of the higher elevation than those tested in well 23/16f-11. A full evaluation of the hydrocarbon bearing interval was carried out and reservoir fluid samples were obtained for further analysis. Reservoir pressure measurements indicate that this reservoir is separate to that discovered in well 23/16f-11 and the full extent of this new accumulation is not yet known. The net pay sand in this new reservoir is approximately 40 vertical feet.

To further evaluate the Columbus discovery the well was then sidetracked to a bottom hole location approximately 2.2 kilometers north of the Columbus discovery well and encountered gas/condensate-bearing Paleocene sands similar to those found in 23/16f-11. Evaluation of down-hole pressure data indicates that the sands encountered in the sidetrack well is about 70 vertical feet, compared to 56 vertical feet in 23/16f-11. Reservoir fluid samples were obtained and the sidetrack well sill now be suspended for potential use in the development of the Columbus field.

The successful outcome of these two wells supports the commercial development of Columbus and data from the two wells will be used to advance field development studies. In conjunction with BP, the operator of the adjacent Lomond field, Serica has recently commissioned an engineering study into the production of Columbus via a subsea tieback to Lomond and this study concluded that export via this route is a practical option. Serica also continues to study alternative export routes for early development of the field.

The interest in Block 23/16f are Serica with 50% (operator), Endeavour Energy UK Limited with 25% and EOG Resources UK Limited with 25%.

Paul Ellis, Chief Executive of Serica said, "These two successful appraisal wells confirm that the Columbus field has significant development potential. The fact that hydrocarbons have been found over three kilometers from the discovery well has opened up a second reservoir target in the field, the extent of which is as yet unknown. The sidetrack has found a thicker and potentially more productive Columbus reservoir than that encountered in the discovery well, which is very encouraging for the prospects of development of Columbus and for further exploration in the area."