Director Appointment
Serica Energy plc
11 March 2008
For release Tuesday 11th March, 2008
SERICA APPOINTS NEW NON-EXECUTIVE DIRECTOR
London, 11 March, 2008 - Serica Energy plc ('Serica') is pleased to announce
that Jonathan Cartwright is joining the Board as a non-executive director with
effect from 27 March, 2007.
Jonathan is Finance Director of Caledonia Investments plc which owns 13% of the
Company's ordinary shares. He is also on the Board of Bristow Group Inc., one
of the world's leading providers of helicopter services to the offshore oil and
gas industry. From 1984 until 1989 he held a variety of positions at Hanson
PLC, including Group Financial Controller and director of various subsidiaries.
From 1983 to 1984 he served as Finance Director of Transworld Petroleum (U.K.)
Limited and, from 1980 to 1983, he served as Group Controller of Shulton (GB)
Limited, a subsidiary of American Cyanamid Group. Jonathan is a Chartered
Accountant and, from 1975 to 1980, was with Peat Marwick, a predecessor of KPMG
LLP.
Tony Craven Walker, Chairman, said that,
'I am delighted that Jonathan has agreed to join Serica's Board as a
non-executive director. His contribution will be of particular value as we
enter a period which we believe is likely to see consolidation in the UK
independent oil sector aimed at accelerating shareholder return. The experience
that Jonathan brings to Serica at this time, and as we bring our discoveries
closer to production, will be invaluable. We look forward to welcoming him to
the Board.'
Background Notes:
Serica Energy plc is an international oil and gas exploration company with
operations in the UK, Norway, Spain, Ireland, Indonesia and Vietnam. It is
currently developing a gas-condensate field in Indonesia (the Kambuna field) and
appraising a gas-condensate discovery in the UK North Sea (the Columbus field).
The Company's ordinary shares are listed in London on AIM and on the Canadian
TSX Venture Exchange under the symbol 'SQZ'. The 2006 Annual Report and Accounts
can be obtained from the Company's web-site www.serica-energy.com and at
www.sedar.com.
Enquiries:
Serica Energy plc
Paul Ellis, paul.ellis@serica-energy.com +44 (0)20 7487 7300
Chief Executive Officer
Chris Hearne, chris.hearne@serica-energy.com +44 (0)20 7487 7300
Finance Director
JPMorgan Cazenove
Steve Baldwin steve.baldwin@jpmorgancazenove.com +44 (0)20 7588 2828
+44 (0)20 7355 5872
Tristone Capital Ltd
Majid Shafiq mshafiq@tristonecapital.com
Pelham Public Relations -UK
James Henderson james.henderson@pelhampr.com +44 (0)20 7743 6673
Alisdair Haythornthwaite alisdair.haythornthwaite@pelhampr.com +44 (0)20 7743 6676
CHF - Canada
Sarah Gingerich sarah@chfir.com +1 416 868 1079
Information required to be disclosed pursuant to Schedule 2(g) of the AIM Rules.
Jonathan Cartwright is Finance Director of Caledonia Investments plc which owns
13% of Serica's ordinary shares. He is also on the Board of Bristow Group Inc.
and Bristow Aviation Holdings Limited and was on the Boards of Bristow
Helicopter Group Limited (resigned June 2006), KLM Cityhopper UK Ltd (resigned
December 2004) and The Edinburgh Crystal Glass Company Limited (resigned
September 2006). The Edinburgh Crystal Glass Company Limited was put into
administration in July 2006.
From 1984 until 1989 Jonathan Cartwright held a variety of positions at Hanson
PLC, including Group Financial Controller and director of various subsidiaries.
From 1983 to 1984 he served as Finance Director of Transworld Petroleum (U.K.)
Limited and, from 1980 to 1983, he served as Group Controller of Shulton (GB)
Limited, a subsidiary of American Cyanamid Group. Jonathan Cartwright is a
Chartered Accountant and, from 1975 to 1980, was with Peat Marwick, a
predecessor of KPMG LLP.
Jonathan Cartwright is, or has been, a director of the following wholly-owned
subsidiaries of Caledonia Investments plc: Buckingham Gate Limited; Caledonia
Financial Limited; Caledonia General Investments Limited; Caledonia GP
Distribution Limited; Caledonia Group Services Limited; Caledonia Industrial and
Services Limited; Caledonia Treasury Limited; Caledonia Industrial Limited
(resigned April 2003); Caledonia Settlement Limited (resigned December 2007);
Cayzer Property Development Limited (resigned May 2003); Cayzer Property
Investments Limited (resigned May 2003); and Cayzer Property Management Limited
(resigned May 2003).
There is no further information required to be disclosed pursuant to Schedule 2
(g) of the AIM Rules.
Forward Looking Statements
This disclosure contains certain forward looking statements that involve
substantial known and unknown risks and uncertainties, some of which are beyond
Serica Energy plc's control, including: the impact of general economic
conditions where Serica Energy plc operates, industry conditions, changes in
laws and regulations including the adoption of new environmental laws and
regulations and changes in how they are interpreted and enforced, increased
competition, the lack of availability of qualified personnel or management,
fluctuations in foreign exchange or interest rates, stock market volatility and
market valuations of companies with respect to announced transactions and the
final valuations thereof, and obtaining required approvals of regulatory
authorities. Serica Energy plc's actual results, performance or achievement
could differ materially from those expressed in, or implied by, these forward
looking statements and, accordingly, no assurances can be given that any of the
events anticipated by the forward looking statements will transpire or occur, or
if any of them do so, what benefits, including the amount of proceeds, that
Serica Energy plc will derive therefrom.
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
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