9th Mar 2007 09:19
Soco International PLC09 March 2007 SOCO International plc ("SOCO" or "the Company") Exploration Well on Block 9-2 in Vietnam The Company's majority owned subsidiary, SOCO Vietnam Ltd., announces thecompletion of the Ca Ong Doi 2X ("COD-2X") well, the first Clastics targetedwell on Block 9-2. The well encountered lower Miocene sands however they werenot charged with hydrocarbons possibly indicating that the structure wasdeveloped after migration. Sands were also encountered in both the Oligocene "C" and "E" sequences.Although the Oligocene "C" had good shows, the sands were thinner than expectedand, following evaluation of the electric logs, it was decided not to flow testthis horizon. In the Oligocene "E" the shows encountered were of residual oilindicating that the reservoir had been breached. The Trident IX rig is currently preparing to plug and abandon the COD-2X welland is preparing to move back to Block 16-1. Ed Story, President and Chief Executive of SOCO, commented:"The sands and oil shows encountered in this high risk well provide importantinsight into the clastics play in Block 9-2. We will now incorporate the resultsof the well into our understanding of the Block while we focus our near termexploration programme on the proven play fairway on Block 16-1 where we expectto drill up to eight exploration wells this year." 9th March 2007 ENQUIRIES: SOCO International plc Roger Cagle Deputy Chief Executive and Chief Financial Officer Tel: 020 7747 2000 Pelham Public Relations James Henderson Tel: 020 7743 6673Alisdair Haythornthwaite Tel: 020 7743 6676 Notes to Editors SOCO is an international oil and gas exploration and production company,headquartered in London, traded on the London Stock Exchange and a constituentof the FTSE 250 Index. The Company has interests in Vietnam, Yemen, Thailand,the Republic of Congo (Brazzaville) and the Democratic Republic of Congo(Kinshasa) with production operations in Yemen. SOCO holds its interests in Vietnam, all in the Cuu Long Basin offshore, throughits 80% owned subsidiary SOCO Vietnam Ltd ("SOCO Vietnam") and through its 100%ownership of OPECO, Inc. SOCO Vietnam holds a 25% working interest in Block 9-2,which is operated by the Hoan Vu Joint Operating Company and holds a 28.5%working interest in Block 16-1, which is operated by the Hoang Long JointOperating Company. OPECO, Inc. holds a 2% interest in Block 16-1. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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