In June 2009, the Company was awarded a 25% interest in the Foum Draa and Sidi Moussa exploration licences offshore Morocco.  These underexplored licences cover a combined area of approximately 8,319 square kilometres in the Central Atlantic margin, with prospects identified in water depths ranging from 80 metres to 2,000 metres. The licence areas include a significant number and diversity of prospects and leads within extensional tilted blocks (Sidi Moussa) and salt­ diapir related structures and stratigraphic traps (Foum Draa). 

The following table provides a summary of Serica's licences in Morocco: 

*Percentage is post farm-out, subject to the consent of the Moroccan Authorities.