4th Aug 2005 09:26
Soco International PLC04 August 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 traded on the London Stock Exchange and a constituent ofthe FTSE 250 Index. The Company has continuing interests in Vietnam, Yemen,Mongolia, Libya and Thailand with ongoing production operations in Yemen andMongolia. SOCO's transaction to dispose of its Mongolian operations is pendingcompletion after gaining approval from its shareholders at an EGM on 10 May2005. The initial wildcat exploration well, the Te Giac Trang, that spudded on 2 June2005 on the "H" prospect on Block 16-1 offshore Vietnam was drilled to a totalmeasured depth of 4,478 metres and has been cased. Preparations for testing havecommenced. The well was drilled to test several Miocene and Oligocene intervals in apreviously un-drilled part of Block 16-1. It was drilled significantly deeperthan the original prognosis due to the presence of encouraging hydrocarbon showscontinuing below the original target depth. On completion of the testing programme the rig will return to drill an appraisalwell, CNV-4X, on the Ca Ngu Vang ("CNV") structure on Block 9-2. This well willbe the third well in the multi-well drilling programme scheduled for Vietnamthis year. 4 August 2005 ENQUIRIES: SOCO International plcRoger Cagle Deputy Chief Executive and Chief Financial Officer Tel: 020 7747 2000 Pelham Public RelationsJames Henderson Tel: 020 7743 6673Charles Vivian Tel: 020 7743 6672 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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