Drilling Report

Soco International PLC
14 November 2002

                SOCO International plc ('SOCO' or 'the Company')
                           Mongolia Operations Update


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 announces the results of its 2002 drilling programme in Contract Area 19 in
the Tamtsag Basin.  The Company had encouraging results as it significantly
expanded its area under evaluation by drilling two exploration wells 20 and 25
kilometres, respectively, outside of the pilot production area, which has been
the focus in recent efforts.  Both exploration wells, only one of which was
production tested prior to suspension of drilling operations with the onset of
the harsh Mongolian winter, encountered hydrocarbons.  However, the 19-16 well
appears to have intersected the highest quality oil bearing reservoir yet
encountered in Mongolia.  The appraisal well, drilled across a fault line from
one of the structures drilled last year, gave additional confirmation to the
reserves upgrade associated with last year's drilling programme.



The 19-15 well, the first well drilled after the programme got underway in
August, is located approximately one kilometre east of the SOTAMO 19-14 well,
which was drilled in 2001 and is productive from the Tsagantsaav Sands of Lower
Cretaceous age.  The well reached a total depth of 2,579 metres on 28 August
having encountered 27 metres of oil shows in a gross interval from 2,006 metres
to 2,084 metres in the Lower Cretaceous aged Tsagantsaav formation.  The rig was
released 28 August and the well has been perforated and fracture stimulated.
It was put on production in November at an initial rate of 110 barrels of oil
per day (BOPD).



The SOTAMO 19-16 well is an exploratory well located approximately 20 kilometres
northeast of the Contract Area 19 development to test a large, previously
undrilled structure.  The 19-16 is the first well to be drilled on the eastern
margin of the basin and was drilled on a sparse seismic grid.  The well was
spudded 3 September and drilled to a total depth of 2,227 metres having
encountered 31 metres of oil shows in the Tsagantsaav within a gross interval
from 1,682 metres to 1,730 metres.  The rig was released 16 September and the
well was completed and fracture stimulated.  The initial production testing
recovered oil and formation water and indicated good reservoir capable of
sustained production.  The well will be followed up with a 2D seismic program
during the winter season to identify additional locations to be drilled during
2003 on this trend.



The SOTAMO 19-17 well, an exploratory test located approximately 25 kilometres
north of the Contract Area 19 development, spudded 20 September and drilled to a
total depth of 2,445 metres.  The well encountered 26 metres of shows in the
Tsagantsaav interval from 2,175 metres to 2,348 metres.  The well has been
suspended due to the onset of winter and will be tested in the second quarter of
2003.



The pilot production test of the existing Contract Area 19 wells will continue
through the winter with the crude oil being sold at world prices under a
contract with China National United Oil Corporation.  The crude sold is trucked
under a turnkey contract to a pipeline terminal in Aershan Oilfield in China for
further transportation to a refining center.  Production rates, although
restricted due to production equipment limitations, are currently averaging
approximately 550 barrels per day.



SOCO plans to acquire approximately 1,500 kilometres of 2D seismic during the
winter season to identify the location of exploratory tests to be drilled during
2003.



SOCO Tamtsag Mongolia, the Company's wholly owned subsidiary, currently holds an
approximate 85% working interest in production sharing contracts over Contract
Areas 19, 21 and 22 in the Tamtsag Basin in Mongolia.  The Chinese company
providing the drilling services has earned the right to take a 10% working
interest and a 5% interest is being carried through the exploration phase for
Petrovietnam, the Vietnamese national oil company.



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



'We are encouraged by the presence of oil in these large structures which adds
further support to the ultimate exploration potential of the Tamtsag Basin.  A
concerted mapping effort will take place over the winter to further define new
exploration opportunities leading into next year's drilling programme.'



                                                                14 November 2002



Enquiries:


SOCO International plc                               Tel: [phone]
Ed Story, Chief Executive
Roger Cagle, Chief Financial Officer


College Hill                                         Tel: [phone]
James Henderson





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