US$100m Debt Facility

Serica Energy plc
18 July 2007


FOR IMMEDIATE RELEASE

                    SERICA ENERGY PLC OBTAINS COMMITMENT FOR
                  US$100 MILLION SENIOR SECURED DEBT FACILITY

London, 18th July 2007 - Serica Energy plc ('Serica' or the 'Company') has
obtained a commitment from JPMorgan Chase Bank, N.A. and The Governor and
Company of the Bank of Scotland to enter into a US$100 million senior secured
debt facility. Closing of the facility is subject to legal documentation and
fulfillment of standard terms and conditions for a debt financing of this
nature.

The facility, which will have a term of 12 months, with the Company having an
option to extend for a further 6 months, will be used to fund appraisal and
development expenditures for the Kambuna field in Indonesia and the Columbus
field in the UK North Sea as well as for Norwegian appraisal expenditure and
general corporate purposes.

Serica's Chief Executive, Paul Ellis, said:

'This facility provides Serica with the funds required to develop the Company's
interests in the Kambuna and Columbus fields, both of which are operated by
Serica, and to meet Serica's share of drilling costs for appraisal of the Bream
oil discovery in the Norwegian North Sea, planned for early 2008.

Development of the Kambuna field is now well underway with negotiations for the
sale of the gas at an advanced stage. The field lies offshore North West Sumatra
and is destined to supply gas to the city of Medan. The wellhead support tower
is currently under construction in Balikpapan, Indonesia, and is scheduled for
delivery in September. In the fourth quarter of this year, the support tower
will be installed and three wells will be drilled to develop and further
appraise the full extent of the Kambuna field. In the North Sea, plans for early
appraisal and development of the Columbus field are significantly advanced and
the first Columbus field appraisal well is scheduled to commence drilling in
late August.

The Company has been very successful in extending its acreage bank and is
building up its exploration drilling activity in the second half of the year
with two exploration wells to be drilled in the Biliton block in Indonesia,
offshore Java. Subject to the successful outcome of current farm-out
negotiations, further drilling is also planned for the UK North Sea.

I believe that the Company's exploration prospects provide the potential to add
material value for shareholders and we continue to seek opportunities to bring
our exploration plans forward at the same time as appraisal and development
activity in the Company is becoming more significant.'

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),
appraising a gas-condensate discovery in the UK North Sea (the Columbus field)
and appraising an oil field in the Norwegian North Sea (the Bream 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 on Serica's web site at www.serica-energy.com and at
www.sedar.com

- END -

Enquiries:

Serica Energy plc

Paul Ellis, Chief Executive Officer
Email: [e-mail]
Tel: [phone]

Chris Hearne, Finance Director
Email: [e-mail]
Tel: [phone]

JPMorgan Cazenove

Steve Baldwin
Email: [e-mail]
Tel: [phone]

Pelham Public Relations -UK

James Henderson
Email: [e-mail]
Tel: [phone]

Alisdair Haythornthwaite
Email: [e-mail]
Tel: [phone]

CHF - Canada

Kelly Cody
Email: [e-mail]
Tel: [phone]

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.

 To receive Company news releases via email, please contact [e-mail] and
              specify 'Serica press releases' in the subject line.







                      This information is provided by RNS
            The company news service from the London Stock Exchange