Operations in Spain

 

Overview

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Serica obtained its exploration permits in Spain in 2003. They are located onshore in north eastern Spain near the foothills of the Pyrenees mountains. Serica identified this area as having a working petroleum system, demonstrated by the presence of reservoir and seal rocks in outcrop, gas seeps at surface and gas shows in many of the wells drilled in the area. However, due to the paucity of good seismic data then available, the earlier wells had not tested valid traps and were not drilled deep enough to test the entire prospective section. A significant untested anticlinal trend exists on the permits and, having completed a seismic test line of excellent quality, Serica has committed to a major 2D seismic survey to be carried out in the autumn of 2007.

 

 

Page last updated on August 17th, 2007 in accordance with AIM Rule 26