The stock of U.K. based oil company Serica Energy soared 25 percent on Friday on news the company, with no revenues, had nevertheless posted a $33 million profit for the period ahead of appraising the Chablis discovery.

With its Norwegian holdings sold — apart from “upside” field stakes — Serica said it was now focused with new partner Hansa Hydrocarbons to get the Northern Offshore Energy Enhancer to drill at Chablis.

A new well is about to spud at well 48/16a and a subsea tie-back to existing pipelines are likely development options.

Serica will initially have a 100 percent nterest in the new Chablis, but Hansa might earn 65 percent under the terms of a farm-in.