SERICA ENERGY PLC

M&A Activity • Nov 4, 2025

National Storage Mechanism | Additional information

RNS Number : 0144G

Serica Energy PLC

04 November 2025

4 November 2025

Serica Energy plc

('Serica' or 'the Company')

Farm-in to UK North Sea P2530 Licence

Serica is pleased to announce that it has reached agreement with Finder Energy for a 40% interest in the P2530 Licence ('P2530' or 'Licence'), for an initial consideration of c.£500,000 (c.$650,000). The Licence is currently held by Finder Energy (60% operated interest) and Dana Petroleum (40% interest).

P2530 contains the Wagtail oil discovery and the low-risk Marsh and Bancroft exploration prospects. The addition of the stake in Wagtail adds an operator estimated c.8 MMbbls of net 2C Contingent Resources to the Serica portfolio, enhancing the Company's already attractive organic growth opportunity set.

Wagtail is situated north-west of the Triton FPSO and the North Sea Transition Authority ('NSTA') has recently agreed an extension to the current licence phase to 31 August 2026. During the extension period, development engineering feasibility studies will be carried out to confirm its potential integration into the Triton FPSO and to provide comfort that such a tie-back can be economically developed. The P2530 joint venture will then be in a position to decide whether to move onto the next licence phase and commit to drill an appraisal well, or relinquish the licence with no further commitments by 31 August 2026.

Completion of the farm-in is subject to NSTA approval and other required consents.

The technical information contained in the announcement has been reviewed and approved by Carla Riddell, Chief Technical Officer at Serica Energy plc. Ms. Riddell (B.Sc. Geology from University of Durham University, M.Sc. Palynology from University of Sheffield) has over 25 years of experience in oil & gas exploration, development and production and is a Fellow of the Geological Society of London and Energy Institute.

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Enquiries:

Serica Energy plc	+44 (0)20 7487 7300
Martin Copeland (CFO) / Andrew Benbow (Group Investor Relations Manager)
Peel Hunt (Nomad & Joint Broker)	+44 (0)20 7418 8900
Richard Crichton / David McKeown / Emily Bhasin
Jefferies (Joint Broker)	+44 (0)20 7029 8000
Sam Barnett / Cameron Jones
Vigo Consulting (PR Advisor)	+44 (0)20 7390 0230
Patrick d'Ancona	[email protected]

NOTES TO EDITORS

Serica Energy is a British independent oil and gas exploration and production company with a portfolio of UKCS assets. Serica has a balance of gas and oil production. The Company is responsible for about 5% of the natural gas produced in the UK, a key element in the UK's energy transition.

Serica's producing assets are focused around two main hubs: the Bruce, Keith and Rhum fields in the UK Northern North Sea, which it operates, and a mix of operated and non-operated fields tied back to the Triton FPSO. Serica also has operated interests in the producing Columbus (UK Central North Sea) and Orlando (UK Northern North Sea) fields and a non-operated interest in the producing Erskine field in the UK Central North Sea.

Serica has a two-pronged strategy for growth comprising investment in its existing portfolio and M&A. Further information on the Company can be found at www.serica-energy.com. The Company's shares are traded on the AIM market of the London Stock Exchange under the ticker SQZ. To receive news releases via email, please subscribe via the Company website.

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