First Day of Dealings on AIM

Serica Energy plc
13 December 2005


                               SERICA ENERGY PLC

                          ('Serica' or the 'Company')


                   FIRST DAY OF UNCONDITIONAL DEALINGS ON AIM


13 December 2005 - Serica, an international oil and gas exploration company with
principal activities in the UK North Sea, Indonesia and Spain, announces that
the Company's Ordinary Shares of US$0.1 each have today been admitted to trading
on the AIM Market of the London Stock Exchange ('AIM'). The Company's trading
symbol is 'SQZ'.

Admission Details

•  67,368,421 Ordinary Shares have been conditionally placed with
   investors by JPMorgan Cazenove, the Company's Nominated Adviser and UK 
   Broker, to raise £64.0 million (before expenses) for the Company.

•  On admission to AIM a total of 142,548,580 shares were in issue
   capitalising the Company at £135.4 million at the placing price of 95p per
   share.

•  The Company is also quoted on the TSX-V Exchange (TSX-V: SQZ).  Unless
   permitted by Canadian securities legislation, the new Ordinary shares may not 
   be traded in Canada before 14 April 2006.

Use of Proceeds

•  On 6 October 2005 the Company announced the successful drilling of the
   Kambuna-2 well, offshore Northern Sumatra. Serica plans to submit a 
   preliminary plan of development for the Kambuna Field, in which it is 
   operator and has a 55 per cent. working interest, by year end.


•  Following this success, funds will be used to finance Serica's planned
   exploration, appraisal and development program over the next 24 months,
   principally on operated blocks where Serica has substantial interests

-  In 2006 and 2007, the Company estimates that it will spend US$60
   million on its exploration and appraisal program and a further US$34 million 
   on the development of the Kambuna Field, and of the Singa Field in Southern 
   Sumatra 

-  Eleven exploration or appraisal wells are planned over the period

-  The Gaffney, Cline & Associates Ltd Competent Person's Report confirms
   the potential for drilling prospects to add significantly to the Company's
   reserve base

-  Appraisal and development over next 24 months will accelerate Serica's
   objective of bringing its four discoveries onto production


Key Strengths

The Directors consider the key strengths of Serica to be:

•   Highly experienced management with sustained record of creating value for 
    shareholders and particular knowledge of the areas in which Serica operates

•   Operator with working interests of 50-100 per cent. in all of its properties 
    other than in the Lematang PSC

•   A diverse portfolio including existing oil and gas discoveries and ready to 
    drill exploration prospects as detailed in the Gaffney, Cline & Associates 
    Ltd Competent Person's Report:

-   Four existing discoveries

-   Two near-term development opportunities with production targeted to commence
    in 2008

-   Thirty-two prospects and leads, which require further evaluation, including
    seismic and drilling

Tony Craven Walker, Chairman of Serica, commented:

'Serica's technical team has assembled a portfolio of exploration properties,
in Indonesia, the UK North Sea and in Spain, which have considerable upside
potential.

The successful outcome of Kambuna-2 and Togar-1A, our first two wells drilled as
operator, highlights this potential.

Our admission to AIM and the accompanying fundraising gives Serica the financial
resources to explore, appraise and develop its quality asset base which has the
potential to generate material value for shareholders.'

                                                               13 December, 2005

A copy of the Gaffney, Cline & Associates Ltd Competent Person's Report is
available on the Company's website: www.serica-energy.com, and on SEDAR;
www.sedar.com

Enquiries:

Serica Energy plc
Paul Ellis, Chief Executive Officer                        [phone]
Chris Hearne, Finance Director                             [phone]

JP Morgan Cazenove
Steve Baldwin                                              + 44 (0)20 7155 2828

Pelham Public Relations
James Henderson                                            [phone]
                                                           [phone]


EDITORS' NOTES

Management

Tony Craven Walker, aged 62, non-executive Chairman

Tony Craven Walker joined Serica as non-executive Chairman in August 2004. He
has been a leading figure in the British independent oil industry since the
early 1970s. During his 39 year career in the oil and gas industry he has
founded two British independent oil companies, Charterhouse Petroleum plc which
was acquired by Petrofina for £140 million in 1986, and Monument Oil and Gas plc
which was acquired by Lasmo for approximately £600 million in 1999. He was Chief
Executive of Charterhouse Petroleum and Monument and became Chairman of Monument
in 1997. Tony Craven Walker was a founder member of BRINDEX (The Association of
British Independent Oil Exploration Companies), formed in 1974 as the official
voice of British Independent oil and gas exploration companies, and was a
leading officer of the Association for many years.


Paul Ellis, aged 59, Chief Executive Officer

Paul Ellis joined Serica as Chief Executive Officer in September 2005. He has 35
years of experience within the areas of exploration, production, development and
management of international oil and gas ventures. He joined Serica from Emerald
Energy plc, a United Kingdom listed company with operations in Colombia, where
as Chief Operating Officer, he was instrumental in the rapid and successful
expansion of the company's exploration and production interests. He has held
positions as a director or senior executive of a number of public companies such
as Charterhouse Petroleum and British Gas in the United Kingdom, where he was
Technical Director and Director, International E&P respectively, and PanCanadian
Petroleum (now Encana) in Canada where he was Senior Vice President
International. In assuming these senior roles, Paul has held technical and
financial responsibility for new ventures and projects in over 20 countries.



Chris Atkinson, aged 47, Chief Operating Officer

Chris Atkinson is a founder of the Group with 23 years of varied experience in
the international oil and gas industry. He has a significant track record of
acquiring high quality exploration acreage on which several discoveries have
ultimately been made.  He joined Shell in April 1983 at its KSEPL Rijswijk
Research Laboratory and then spent a further 15 years at ARCO Oil and Gas
Company (Atlantic Richfield) in a variety of senior management positions in
Indonesia, UK and Europe and was Exploration Director of ARCO British and
Exploration Vice President, Europe and North Africa when he left in 2000.


Chris Hearne, aged 40, Finance Director

Chris Hearne joined Serica in January 2005 from Intrepid Energy & Co., a leading
independent exploration and production company in the UK North Sea, for which he
was corporate finance manager for eight years. In this capacity, he contributed
to the growth of Intrepid from a start-up company to its recent sale for over
US$1 billion. Prior to joining Intrepid, he worked as an investment banker with
Lehman Brothers and Robert Fleming & Co. Ltd.


Jim Steel, aged 72, non-executive Director

Jim Steel joined Serica as a non-executive Director in June 2004. He has been
involved in the oil and gas industry since 1961 when he was appointed legal
adviser to BP Canada Limited. Between 1961 to 1968 he has held a variety of
positions at The British Petroleum Company and BP Canada Ltd. From 1968 to 2005
he practiced as a corporate, commercial and oil and gas lawyer in Calgary,
Alberta.


Neil Pike, aged 60, non-executive Director

Neil Pike joined Serica as a non-executive Director in August, 2004. He has been
involved in the global petroleum business as a financier since joining the
energy department of Citibank in 1975. Neil remained an industry specialist with
Citibank throughout his career, based in either London or New York, and was
closely involved in the development of specialised oil field financing in the UK
North Sea and North America, and whose practices were eventually extended to
suitable situations around the world. At the end of his career with Citibank, he
was responsible for the bank's relationships with the oil and gas sector.


Neither this announcement nor any copy of it may be taken or transmitted into
the United States of America or its territories or possessions (the 'United
States'), or distributed, directly or indirectly, in the United States of
America, or its territories or possessions, or to any U.S. person as defined in
Regulation S under the Securities Act 1933, as amended, including U.S. resident
corporations, or other entities organised under the laws of the United States or
any state thereof or non-U.S. branches or agencies of such corporations or
entities or into Australia, Japan, South Africa or the Republic of Ireland.
Neither this document nor any copy of it may be taken or transmitted into or
distributed in Australia, Japan, South Africa or the Republic of Ireland, or any
other jurisdiction which prohibits the same except in compliance with applicable
securities laws. Any failure to comply with this restriction may constitute a
violation of United States or other national securities laws.

This announcement is not an offer of securities for sale in the United States.
The securities described herein may not be offered or sold in the United States
absent registration or an exemption from registration.

This announcement has been issued by Serica and is the sole responsibility of
Serica and has been approved solely for the purposes of Section 21 of the
Financial Services and Markets Act 2000 by JPMorgan Cazenove Limited of 20
Moorgate, London  EC2R 6DA.  JPMorgan Cazenove Limited, which is regulated in
the United Kingdom by the Financial Services Authority, is acting for Serica and
no-one else in connection with this matter and will not be responsible to any
other person for providing the protections afforded to clients of JPMorgan
Cazenove Limited or for providing advice in relation to this matter.

No shares of Serica have been marketed to, nor are available for purchase in
whole or in part by the public in the UK or elsewhere in connection with the
proposed fundraising.

The distribution of this announcement in certain jurisdictions may be restricted
by law, and persons into whose possession this announcement, or any document
referred to herein, comes should inform themselves about, and observe, any such
restrictions. Any failure to comply with these restrictions may constitute a
violation of the securities or other laws of any such jurisdiction.

This announcement contains forward-looking information which is based on
management's current expectations and is subject to uncertainty and changes in
circumstances.  Actual results may vary materially from the expectations
contained in this announcement.  Whilst the forward-looking information has been
prepared in good faith, by its very nature it relates to facts and circumstances
in the future and therefore it should not be relied upon. Serica is under no
obligation to (and expressly disclaims any such obligation to) update or alter
any forward-looking information whether as a result of new information, future
events or otherwise.

This announcement does not constitute or form part of any offer for sale or
subscription of or solicitation of any offer to buy or subscribe for any
securities nor shall it or any part of it form the basis of or be relied on in
connection with or act as an inducement to enter into any contract or commitment
whatsoever.   No person is authorised by JPMorgan Cazenove Limited or any of its
affiliates to give any information or to make any representation not contained
in the final AIM admission document and any information or representation which
is not so contained must not be relied upon as having been authorised by or on
behalf of JPMorgan Cazenove Limited or any of its affiliates.

The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.


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