LONDON, UNITED KINGDOM -- (Marketwire) -- 10/30/12 -- Serica Energy plc (AIM:SQZ)(TSX:SQZ) -

Form TR-1 with annex. FSA Version 2.1 updated April 2007

For filings with the FSA include the annex                                  
For filings with issuer exclude the annex                                   
                                                                            
----------------------------------------------------------------------------
TR-1: Notifications of Major Interests in Shares                            
----------------------------------------------------------------------------
1. Identity of the issuer or the underlying issuer                          
 of existing shares to which voting rights are                              
 attached:                                             Serica Energy plc    
----------------------------------------------------------------------------
2. Reason for notification (yes/no)                                         
----------------------------------------------------------------------------
                                                                            
An acquisition or disposal of voting rights                    X            
----------------------------------------------------------------------------
An acquisition or disposal of financial                                     
 instruments which may result in the acquisition                            
 of shares already issued to which voting rights                            
 are attached                                                               
----------------------------------------------------------------------------
An event changing the breakdown of voting rights                            
----------------------------------------------------------------------------
Other (please specify)                                                      
----------------------------------------------------------------------------
3. Full name of person(s) subject to notification                           
 obligation:                                      Global Reserve Group LLC  
----------------------------------------------------------------------------
4. Full name of shareholder(s) (if different from                           
 3):                                                                        
----------------------------------------------------------------------------
5. Date of transaction (and date on which the                               
 threshold is crossed or reached if different):         29 October 2012     
----------------------------------------------------------------------------
                                                                            
6. Date on which issuer notified:                       29 October 2012     
----------------------------------------------------------------------------
                                                                            
                                                  14%, 13%, 12%, 11%, 10%,  
                                                  9%, 8%, 7%, 6%, 5%, 4% and
7. Threshold(s) that is/are crossed or reached:   3%                        
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
8. Notified Details                                                         
----------------------------------------------------------------------------
A: Voting rights attached to shares                                         
----------------------------------------------------------------------------
            Situation previous to Resulting situation after the triggering  
            the triggering        transaction                               
            transaction                                                     
            ----------------------------------------------------------------
Class/                                                                      
type                                                                        
of                                                                          
shares                                                                      
                                                                            
If                                                                          
possible                    Number                                          
use                             of     Number      Number       Percentage  
ISIN        Number          voting         of    of voting       of voting  
code        of shares       rights     shares      rights         rights    
                                             -------------------------------
                                                                            
                                                         Indi-        Indi- 
                                                Direct   rect  Direct  rect 
----------------------------------------------------------------------------
GB00B0CY5V57                                                                
                                                                            
Ordinary                                                                    
 shares                                                                     
USD 0.10    25,501,736  25,501,736 25,501,736 25,501,736   0   14.4%    0%  
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
B: Financial Instruments                                                    
----------------------------------------------------------------------------
Resulting situation after the triggering transaction                        
----------------------------------------------------------------------------
                                          No. of voting                     
                                          rights that may be                
                              Exercise/   acquired (if the                  
Type of                       conversion  instrument            Percentage  
financial         Expiration  period/     exercised/            of voting   
instrument        date        date        converted)            rights      
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Total (A+B)                                                                 
----------------------------------------------------------------------------
Number of voting rights               Percentage of voting rights           
----------------------------------------------------------------------------
                                                                            
25,501,736                            14.4%                                 
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
9. Chain of controlled undertakings through which the voting rights and /or 
the financial instruments are effectively held, if applicable:              
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Proxy Voting:                                                               
----------------------------------------------------------------------------
10. Name of proxy holder:                                                   
----------------------------------------------------------------------------
11. Number of voting rights proxy                                           
holder will cease to hold:                                                  
----------------------------------------------------------------------------
12. Date on which proxy holder will                                         
cease to hold voting rights:                                                
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
13. Additional information:           None                                  
----------------------------------------------------------------------------
14. Contact name:                     Jeffrey Harris                        
----------------------------------------------------------------------------
15. Contact telephone name:           001 917 439 1639                      
----------------------------------------------------------------------------

For notes on how to complete form TR-1 please see the FSA website.