Following the announcement on 13 October 2025 that it had signed an agreement to acquire the entirety of BP’s stake in the P111 and P2544 licences, Serica announces that one of the licence partners, NEO NEXT, has decided to take up its rights of pre-emption.
Chris Cox, Serica’s CEO, stated: “While this outcome is of course disappointing, it was always known to be a possibility. Serica continues to actively pursue further M&A opportunities, as well as progress our attractive organic growth options, with a goal of diversifying the Company’s portfolio of assets, increasing production, and creating value for shareholders.”
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the company’s obligations under Article 17 of MAR.
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