Soco International PLC
18 April 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. The Company has continuing interests in Vietnam, Yemen,
Mongolia, Libya and Thailand with ongoing production operations in Yemen and
Mongolia. As announced on 1 April 2005, SOCO has agreed to dispose of its
Mongolian operations, subject to gaining approval from its shareholders.
The appraisal well on the Ca Ngu Vang ('CNV') structure that spudded on 29
January 2005 reached target depth on 16 April 2005. At a measured depth ('MD')
of 6,123 metres, this gives the CNV-3X well the distinction of being the longest
MD well ever drilled in Vietnam. The well reached a total vertical depth of
4,426 metres penetrating 2,017 metres of Granitic Basement at an average angle
of 82 degrees from vertical intersecting various fault and fracture domains
within the reservoir. It is anticipated that the well will take some two to
three weeks to test.
18 April 2005
ENQUIRIES:
SOCO International plc Tel: 020 7747 2000
Roger Cagle, Deputy Chief Executive and
Chief Financial Officer
College Hill Tel: 020 7457 2020
Ben Brewerton
Nick Elwes
Notes to editors:
SOCO holds its interests in Vietnam, all in the Cuu Long Basin offshore, through
its 80% owned subsidiary SOCO Vietnam Limited ('SOCO Vietnam'). SOCO Vietnam
holds a 25% working interest in Block 9-2, which is operated by the Hoan Vu
Joint Operating Company and a 28.5% working interest in Block 16-1, which is
operated by the Hoang Long Joint Operating Company.
This information is provided by RNS
The company news service from the London Stock Exchange
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