Serica Energy Reports US$23.3 Million Cash Balance in 2012 Q2

Serica Energy plc (TSX:SQZ) reported a US$23.3 million cash balance at the end of its 2012 second quarter.

As quoted in the press release:

Serica has made very good progress in all its operations throughout the first half of 2012.

The Company:

ended the quarter with no debt and US$23.3 million unrestricted cash balance, 40% up over the quarter and 16.7% up on the balance held at the start of the year

Serica Energy’s Chairman and Interim CEO, Tony Craven Walker commented:

Serica is very well placed to expand on the clear potential of its properties and we remain totally committed to demonstrating the value of our assets.

Click here to read the Serica Energy plc (TSX:SQZ) press release.