Sep. 2012 - Serica Energy announced a farm-out agreement has been reached with JX Nippon for UK North Sea Block 22/19c. At present, Serica holds a 100% interest in the block. Once the UK government signs off on the transaction, JX Nippon will be the operating partner with an 85% stake. As part of the agreement, JX Nippon will pay $250,000 to Serica and bear all future costs associated with the license.

Aug. 2010 - Premier Oil has reached a targeted depth of 10,323 feet (3,146 meters) in the 22/19c-6 well on the Oates prospect. The well encountered the Forties objective as planned, but logging has indicated that hydrocarbons are not present. The well will be plugged and abandoned as a dry hole. A full post-drill analysis will be performed to assess the remaining potential on the block, which will include the Bowers prospect. Premier Oil serves as the operator of Block 22/19c, holding a 50% interest; Serica holds the remaining 50%.

Aug. 2010 - Drilling operations have commenced at the Oates exploration well on Block 22/19c in the UK sector of the North Sea. Drilled by the ENSCO 100 jackup, the well has a proposed total depth of 10,000 feet (3,048 meters). Drilling should take about 30 days.

Apr. 2010 - Premier Oil secured the ENSCO 100 jackup to drill one well on the Oates prospect on Block 22/19c in the UK sector of the North Sea. The rig should be on location in June 2010 and drilling should last for about 30 days. The Oates prospect is located on Block 22/19c in 295 feet (90 meters) of water and was acquired by Serica in the UK 25th Round of Offshore Licensing. In January, Premier Oil reached an agreement with Serica Energy to farm-in to a 50% equity interest and assume operatorship of Block 22/19c.

Jan. 2010 - Premier Oil has reached an agreement with Serica Energy to farm-in to a 50% equity interest and assume operatorship of Block 22/19c in the UK Central North Sea, subject to regulatory approval. The block contains the Oates and Bowers Palaeocene prospects. Premier is planning to drill an exploratory well in late-2Q10 or early-3Q10.

Jun. 2009 - Serica was awarded Block 22/19c from the UK 25th Licensing Round, and acquired a 100% interest. The block is located west of Serica's Columbus field and contains two prospects, Oates and Bowers. The water depth on the block is approximately 295 feet (90 meters). Serica plans to drill a well at the Oates prospect within the next 12 months.