Acquisition

Soco International PLC
10 April 2003





                             SOCO International plc



                            ODEX Heads of Agreement



SOCO is an international oil and gas exploration and production company,
headquartered in London.  The Company has interests in Vietnam, Mongolia, Yemen,
Libya, Tunisia, and Thailand with production operations in Yemen, Tunisia and
Mongolia.



SOCO International plc ('SOCO') announces that its 100% owned subsidiary, SOCO
North Africa Limited ('SOCO NA') and Oilinvest (Netherlands) B.V. ('Oilinvest'),
have signed a Heads of Agreement, subject to contract, ('HOA') with Joint Stock
Bank of the Gas Industry Gazprombank (Gazprombank) for Gazprombank to acquire
the entire issued share capital of OILSOC Investment Company Limited ('OILSOC'),
a company currently owned by Oilinvest (55%) and SOCO NA (45%).



OILSOC's assets consist entirely of its 20% shareholding in ODEX Exploration
Limited ('ODEX'), a specific purpose upstream joint venture formed by Oilinvest
and SOCO NA to identify, develop, produce and market hydrocarbon opportunities
in Libya and other countries.  Under terms of the HOA, SOCO NA would receive
US$2,454,550 for its net interest in OILSOC.  Following completion of the
transaction, the ODEX shareholders will be Oilinvest (46%), SOCO NA (34%) and
Gazprombank via its OILSOC purchase (20%).



The transaction is subject to formal documentation and approval by the necessary
regulatory authorities amongst other things.



Ed Story, President and Chief Executive of SOCO, commented:



'We are very pleased to have Gazprombank join the ODEX joint venture.  We
believe that their expertise in gas handling and production will be invaluable
to the group.  We also believe that the relationships and financial capability
they add to ODEX will only improve an already formidable consortium.'





                                                                   10 April 2003
Enquiries:
SOCO International plc                               Tel: [phone]
Ed Story, Chief Executive
Roger Cagle, Chief Financial Officer
College Hill                                         Tel: [phone]
Phil Wilson-Brown






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