Drilling update

Soco International PLC
23 July 2003


                SOCO International plc ('SOCO' or 'the Company')

          Appraisal Well Confirms Vietnam Block 9-2 Basement Discovery



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 Vietnam Limited ('SOCO Vietnam'), SOCO's 80% owned subsidiary, has
concluded the testing of the Ca Ngu Vang-2XA ('CNV-2XA') vertical appraisal
well, a follow up to the Block 9-2 CNV-1X discovery well announced in September
2002.

This well was a vertical well drilled approximately two kilometres from the
original discovery well and was designed to test the extent of the oil column in
the CNV Basement structure. The well encountered Basement at 3,940 metres total
vertical depth (TVD) and penetrated an oil column of approximately 1,000 metres,
double the oil column intersected in the original discovery well.  The well
appeared to still be in the oil column, with less evidence of Basement
fracturing, when the well reached total measured depth at 5,068 metres (5,009
TVD).  There was no evidence of formation water in the CNV-2XA well.



The CNV-2XA well, although not tested as a flowing well, confirms the original
discovery and confirms that the structure is richly sourced with hydrocarbons.
Additionally, the results of this well appear to demonstrate a higher reserve
potential for this structure given the thickness of the oil column in this well
and the fact that it encountered oil some 500 metres below that in the discovery
well.



As originally planned pending success of this well, a horizontal follow up
section will be drilled immediately from the upper section of this vertical
well.  The length of this horizontal well, which is prognosed to extend
northeast toward the Rang Dong producing field, thus in the opposite direction
from the original discovery well, is dependent upon the size and number of
fractures intersected.  The plans are to put a successful horizontal section on
a long term test as the basis to declare commerciality of the CNV structure.



Additional seismic processing and interpretation is required before the Ca Ong
Doi-2X well ('COD-2X') can be drilled as the planned follow up well to the COD
initial exploration well.  Accordingly, the rig which has been used to drill all
of SOCO Vietnam's wells in the Cuu Long Basin thus far will be released after
the CNV horizontal section has been drilled and tested.  Current expectations
are that the COD structure will be tested in the second quarter of 2004.



SOCO Vietnam holds a 25% working interest in Block 9-2 and a 28.5% interest in
Block 16-1 in the Cuu Long Basin offshore Vietnam.  Both Blocks are contiguous
to the Bach Ho field, which is producing approximately 250,000 BOPD and 150
million cubic feet of gas per day, and the Rang Dong field, which is producing
approximately 65,000 BOPD and 85 million cubic feet of gas per day.



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



'As expected this well confirmed our confidence in the CNV structure and puts us
on course for commerciality.  Moreover, the extent and thickness of the oil
column demonstrated in this well further supports our optimism for the adjacent
COD structure which is to be drilled next year.  Additionally, the oil column at
depth in this well increases the prospective nature of the deeper structure on
Block 16-1 which is adjacent to Bach Ho.  We look forward to updating our
shareholders regarding our exciting outlook in Vietnam and other significant
initiatives when we present interim results on the 4th of September.'



                                                                    23 July 2003

Enquiries:


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

College Hill                                         Tel: [phone]
Justine Hibbert
Phil Wilson Brown






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            The company news service from the London Stock Exchange