Serica Energy Spuds First of Two Biliton Wells

Serica Energy reports that the GSF Rig 136 jackup is now on location in the Biliton Block in the Java Sea, Indonesia and that drilling of the Batara Ismaya #1 exploration well is expected to commence today. Immediately following this well, the rig will drill the next Biliton exploration well on the Batara Indra North prospect.

Serica has a 45% interest in the Biliton PSC and is the operator. The majority of Serica's cost for these two wells is being carried by a farminee.

The Biliton PSC covers an area of approximately 3,940 square kilometers in the Java Sea between the Indonesian islands of Java and Kalimantan. It lies in about 40 meters of water.

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