Serica Enters $100 Million Secured Debt Facility

Serica Energy has entered into a US$100 million senior secured debt facility with JPMorgan Chase Bank, N.A. and The Governor and Company of the Bank of Scotland, following commitments secured and announced earlier this year.

The facility, which has an initial term of 12 months with the Company having an option to extend for a further 6 months, will be available to fund appraisal and development expenditures for the Kambuna field in Indonesia, the Columbus field in the UK North Sea (following the successful appraisal wells announced earlier this month), Bream field appraisal expenditure in Norway and general corporate purposes.