18th Apr 2005 08:30
Soco International PLC18 April 2005 SOCO International plc ("SOCO" or "the Company") Vietnam Drilling Update SOCO is an international oil and gas exploration and production company,headquartered in London. The Company has continuing interests in Vietnam, Yemen,Mongolia, Libya and Thailand with ongoing production operations in Yemen andMongolia. As announced on 1 April 2005, SOCO has agreed to dispose of itsMongolian operations, subject to gaining approval from its shareholders. The appraisal well on the Ca Ngu Vang ("CNV") structure that spudded on 29January 2005 reached target depth on 16 April 2005. At a measured depth ("MD")of 6,123 metres, this gives the CNV-3X well the distinction of being the longestMD well ever drilled in Vietnam. The well reached a total vertical depth of4,426 metres penetrating 2,017 metres of Granitic Basement at an average angleof 82 degrees from vertical intersecting various fault and fracture domainswithin the reservoir. It is anticipated that the well will take some two tothree weeks to test. 18 April 2005 ENQUIRIES: SOCO International plc Tel: 020 7747 2000Roger Cagle, Deputy Chief Executive and Chief Financial Officer College Hill Tel: 020 7457 2020Ben Brewerton Nick Elwes Notes to editors: SOCO holds its interests in Vietnam, all in the Cuu Long Basin offshore, throughits 80% owned subsidiary SOCO Vietnam Limited ("SOCO Vietnam"). SOCO Vietnamholds a 25% working interest in Block 9-2, which is operated by the Hoan VuJoint Operating Company and a 28.5% working interest in Block 16-1, which isoperated by the Hoang Long Joint Operating Company. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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