3rd Jan 2006 07:01
Soco International PLC03 January 2006 SOCO International plc ("SOCO" or "the Company") SUCCESSFUL TESTING OF YEMEN EXPLORATION WELL SOCO is an international oil and gas exploration and production company,headquartered in London traded on the London Stock Exchange and a constituent ofthe FTSE 250 Index. The Company has continuing interests in Vietnam, Yemen,Libya, Thailand and the Republic of Congo with ongoing production operations inYemen. The Company's majority owned subsidiary, Comeco Petroleum, Inc. ("Comeco"),through which the Company holds a 16.785% net working interest in the EastShabwa Development Area in Yemen ("ESDA"), announces the successful productiontest of the Jathma-1 exploration well ("JAT-01"). The well was drilled toexplore a new prospect on the Basement reservoir in the northern area of Block10. The JAT-01 well spudded on 22nd October 2005 and reached a total depth of 3,175metres Measured Depth ("MD"). The well tested over 1900 barrels of oil per dayagainst a 56/64 inch choke with an API gravity of 35 degrees. Further evaluationof the results will be carried out to establish the productivity of the well andthe most appropriate development scenario. The rig has since moved to drill the KHA-1-07.G1 well, a horizontal waterinjection well within the existing proven Kharir Basement field to providepressure support for the nearby KHA-2-16 well. The well commenced drilling onthe 20th December 2005. A second drilling rig spudded the Jathma-2 well, the second Basement explorationwell, on a separate location in the northern part of the Block on the 8thDecember 2005 and is currently drilling at 2436 metres. A third rig commenceddrilling a production well on the Atuf Northwest Field on the 12th December2005. 3 January 2006 ENQUIRIES: SOCO International plcRoger Cagle, Deputy Chief Executive and Chief Financial OfficerTel: 020 7747 2000 Pelham Public RelationsJames HendersonAlisdair HaythornthwaiteTel: 020 7743 6676 NOTES TO EDITORS Comeco, in which SOCO holds a 58.75% interest, has a 28.57% interest in the ESDAin Block 10 in Yemen. The East Shabwa joint venture is operated by TOTAL E & PYemen (28.57% interest) under a production sharing agreement with the governmentof Yemen. The other joint venture partners are Occidental Yemen Ltd. (28.57%interest) and Kuwait Foreign Petroleum Exploration Co. (14.29% interest). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Pharos Energy