http://www.investegate.co.uk/Article.aspx?id=201011091400038790V London, 9 November 2010 - Serica Energy (TSX & AIM: SQZ) announces that it is to carry out a review of strategic alternatives for its Indonesian assets. . Selling all or part of its Indonesian business · Exchanging its Indonesian production for UK or Western European production · Continuing to develop its Indonesian exploration and production assets Paul Ellis, Chief Executive of Serica, commented: "For some time we have been concerned that the underlying value of our Indonesian business has not been fully recognised and the board has therefore decided to review the alternatives. As reported in our recent third quarter Results, the Kambuna field is now producing at higher rates than ever before. Under the terms of the Kambuna Production Sharing Contract the value of the field to Serica is driven more by production and cash flow than by reserves and we would expect to see this reflected in any proposals we receive during this review. Serica sees more opportunity for growth outside of Indonesia. This was a further reason for conducting the review, which we expect will be concluded early next year." -----------
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