16th Aug 2005 17:51
Soco International PLC16 August 2005 SOCO International plc ("SOCO" or "the Company") Provision by International Finance Corporation of the World Bank of US$45 Million Credit Facility 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 and Thailand with ongoing production operations in Yemen. SOCO'stransaction to dispose of its Mongolian operations is pending completion aftergaining approval from its shareholders at an EGM on 10 May 2005. The Company today announces that the International Finance Corporation ("IFC"),the private sector arm of the World Bank Group has agreed to provide Soco with aUS$45m reserve-based, revolving credit facility. Commenting on this, Ed Story, Chief Executive Officer, said: "We are pleased to have instituted this credit facility with the IFC. It givesus increased financial flexibility as we progress several of our projects and italso gives us a strong ally in the countries in which we have current operationsas well as those countries in which we may initiate projects in the future." 16 August 2005 ENQUIRIES: SOCO International plcRoger Cagle Deputy Chief Executive and Tel: 020 7747 2000 Chief Financial Officer Pelham Public RelationsJames Henderson Tel: 020 7743 6673Charles Vivian Tel: 020 7743 6672 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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