Shares in UK independent Serica Energy surged recently after the company admitted it is near to clinching significant licence deals in southern Africa
p>Shares in UK independent Serica Energy surged recently after the company admitted it is near to clinching significant licence deals in southern Africa
The London-based outfit is “in advanced discussions about the award of significant licence areas in Namibia,” it wrote in a brief statement to the city’s junior Alternative Investment Market.
The company was forced into making the statement due, it wrote, to “recent market speculation”.
Wednesday’s statement continued: “Agreements are in the process of being finalised and a further announcement will be made in due course.”
Confirmation of the talks in Namibia sent shares in Serica up almost 10 per cent before trading had even opened in London on Wednesday.
If any deals are firmed up they will be amongst Serica's first in Africa. The company has some plays in Morocco as well as the UK, Ireland an Indonesia.
