Interim Results

Soco International PLC
21 September 2000

                                                                            
                           SOCO INTERNATIONAL PLC        
                                      
            Interim Results for the half year ended 30 June 2000

SOCO  is  an  international oil and gas exploration and  production  company,
headquartered in London with operations in Mongolia, Yemen, European  Russia,
Thailand,  Tunisia,  Vietnam  and North Korea.  Through  the  acquisition  of
Torobex,  SOCO  has  also formed an association with an investor  group  with
access  to a range of production and development opportunities in the  Middle
East and North and West Africa.   SOCO today announces record interim results
for the half year ended 30 June 2000.

HIGHLIGHTS

*    Turnover increased 140% to £20.4 million (1999: £8.5 million)

*    Net income rose over ten fold to £8.7 million (1999: £0.6 million)

*    Basic earnings per share grew ten fold to 12.7p (1999: 1.2p)

*    Further reduction in per barrel operating costs to £3.40 (1999: £3.74)

*    Cash balances increased to £34.9 million (1999: £7.0 million)

*    Active exploration programme in Mongolia with three successful wells

*    Agreement with Huabei Oilfield Services saving US$1.7 million per well

*    Average daily production increased 22% to 8,525 BOPD (1999: 6,985 BOPD)

Ed Story, Chief Executive of SOCO, said:

'These  record results are attributable to both the sharp increase  in  oil
prices during the year as well as the Group's rise in daily production.  With
a  strong net cash position SOCO is in a better position than most to exploit
the high oil price environment.

'Our  forward  strategy  is  clear.  We intend  to  exploit  our  exploration
portfolio during an unprecedented period of relatively low service costs.  We
will  also  continue  to look for meaningful portfolio opportunities  in  the
Middle East and North and West Africa.'


Enquiries:

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

College Hill                            Tel:      [phone]
James Henderson

Chairman's and Chief Executive's Statement

The  first half of 2000 has seen a sustained strength in the crude oil price.
Primarily  as  a  result of product prices, a number of  oil  companies  have
reported  record earnings; however a few have done more than capitalise  from
an  upturn in oil prices.  SOCO is among these few.  During the first half of
the  year the Company substantially increased daily production, both over the
same  period  last year and the full year of 1999, strengthened  its  balance
sheet  by adding to its net cash position and progressed exploitation of  its
exploration portfolio at substantially reduced costs.

Results

The  price  of  crude oil began a recovery in April of 1999  which  has  been
sustained to date.  Per barrel average realisations net to the Group rose  to
US$24.85,  almost double the prices received during the same period  in  1999
and up significantly over full year 1999 realisations of US$16.70 per barrel.
The  combination of production gains and higher oil prices increased turnover
to  £20.4 million compared to £8.5 million for the same period last year  and
£23.8  million  for  the  full year 1999.  Directly  comparing  results  from
continuing operations, period on period turnover increased from £6.3  million
in  the first half of 1999, an increase approaching 225%.   Turnover for  the
period  also  exceeded 1999 full year turnover from continuing operations  by
£0.6 million, rising from £19.8 million.

Gross  profits  rose significantly from £1.1 million reported for  the  first
half  of 1999 to £10.6 million for the first six months of 2000.  Net profits
soared  for  the  period versus the same period last year, rising  from  £0.6
million  to  £8.7 million.  Profits for the period also exceeded  total  year
1999 profits by £1.3 million rising from £7.4 million.  Excluding profit from
the  sale  of the UK assets in 1999, period profits rose from full year  1999
profits by more than 55%.

Reflecting  the  increase in production, operating costs excluding  depletion
and  abandonment  increased over the same period last year rising  from  £4.5
million  to  £5.5  million.   However, on  a  US$  per  barrel  basis  direct
production costs continue to improve from period to period and over full year
last  year,  declining  from approximately $5.95 and $6.02,  respectively  to
$5.45 per barrel produced.

Operating cash flow increased to £15.2 million, compared to £1.0 million  for
the  same  period  last year and £9.2 million for the full year  1999.   Cash
balances,  including term deposits, continued to build, increasing  to  £34.9
million  from  £28.8 million reported at year end (£7.0 million  at  30  June
1999) despite the very active drilling programme.  This is reflective of  the
Company's goal of funding exploration through cash flow.

Operations

Exploration / Development
The  Company has taken advantage of the lag between the increase in crude oil
prices  and  the rebound in service costs to initiate a very active  drilling
programme during the first six months of 2000.  As was reported in  the  1999
Annual Report and Accounts, two wells were drilled on Block B8/38 in Thailand
in  February.  The first well, the B8/38-4, was  plugged and abandoned  after
encountering   several  thick  sand  intervals  which  were  uncharged   with
hydrocarbons.   The subsequent well, the B8/38-5, was drilled on  a  separate
structure and plugged and abandoned after encountering minor shows.  Although
approximately  50%  of  the  Block is due to be relinquished  in  October  in
accordance   with  the  terms  of  the  production  sharing   contract,   the
prospectivity of the Block will be unaffected.

A  total of four wells have been drilled year to date in Mongolia on Contract
Area 19, with the last in the series reaching target depth in September.  The
first well this year, the 19-9 well, was drilled as an appraisal well to  the
1997 discovery well, the 19-3, and confirmed extension of the structure.  The
19-10  tested a new structure approximately 2.5 kilometres north of the  19-3
well.   Log analysis on the 19-10 exploratory well indicates a net productive
reservoir of approximately 77 metres in a gross interval from 2,324 metres to
2,449  metres  that  could  yield in excess  of  thirty  million  barrels  of
recoverable oil.  Sustained production rates have been below expectations and
a fracture stimulation programme is underway.

The third well, the 19-11, was spudded on 2 July as an exploratory test of  a
structure  approximately  1.5  kilometres east  of  the  19-3  location.   It
encountered  hydrocarbons in route to a total depth of 2,651 metres  but  was
drilled into a low porosity reservoir and was suspended without being tested.
The final well, the 19-12 which spudded on 5 August was an appraisal well  to
the 19-10 discovery and is being completed as a producing well.

Activity  throughout the remainder of the year will focus on  maximising  the
performance  of  the  successful wells and establishing a  stable  production
base.   Clearly  the  3D  seismic acquired last year  has  aided  in  mapping
drilling  locations  on  Contract Area 19. Initial mapping  of  the  3D  data
acquired  on Contract Area 21 earlier this year seems to indicate substantial
presence  of  the  high quality P1 sand reservoir.  If  the  continuation  of
interpretation and mapping of Contract Area 21 seismic data reinforces  early
indications,  the  Company would expect to drill on this Contract  Area  next
year.

Under  the  terms of an eight well drilling programme signed this  year  with
Huabei   Oilfield   Services,  a  subsidiary  of  China  National   Petroleum
Corporation   providing  the drilling services at significantly  lower  costs
than  previous  wells (estimated savings of US$1.7 million per well),  Huabei
would  earn  the  right  to elect to participate in Contract  Area  19  after
completion of the full drilling programme.  Huabei participation of up to 20%
would  be  on  a  working  interest basis and fully funded  by  Huabei  going
forward.   The Company and Huabei have agreed to commute part of the drilling
contract  from  Contract  Area 19 to Contract Area 21,  allowing  Huabei  the
opportunity  to  earn a rateable participating working interest  in  the  two
Contract Areas. Petrovietnam, the Vietnamese national oil company, has  a  5%
interest,  carried through the exploration phase, in each of SOCO's  Mongolia
production sharing contracts, including Contract Areas 19 and 21.

Sales  of  crude oil to China, which had been suspended earlier in the  year,
were  reinitiated  in July under a sales contract signed 29  June  2000  with
China  National United Oil Corporation.  As with the previous contract, crude
oil  will  be  trucked  to  a pipeline in the Aershan  Oilfield  for  further
delivery  to the Horhot Refinery in the Inner Mongolia Autonomous  Region  of
China.   Although  the  volumes  sold are not  significant  from  a  turnover
standpoint,  the  sales  programme  will  free  storage  capacity  to  gather
production  data  on  the new discoveries, while allowing  some  recovery  of
costs.

In  January, the Contract Area 20 Enlargement Area, originally added  to  the
Company's  exploration  acreage portfolio in  1997,  was  relinquished.   The
prospectivity  of  Contract Area 20 was downgraded as the only  well  drilled
there  in  1998  encountered volcanics rather than sand reservoir  indicating
that the basin had less potential in the southern portion.  The impact of the
relinquishment is minimal, only reducing lease rental costs.

Ongoing development programmes continued in Yemen and Russia.  In Yemen, four
wells  were  drilled,  two  producers and two water  injectors.   Development
drilling  activity in Russia resulted in the addition of four  wells  in  the
first  half  of  the  year.   Additionally, work continues  on  the  northern
pipeline project in Russia and the waterflooding of the Logovskoye field.

Following  the award of Block 16-1 offshore Vietnam (30% to SOCO's 70%  owned
subsidiary,  SOCO Vietnam Ltd.) in December of last year, organisational  and
staffing  activities  of  the Joint Operating Committee,  which  has  project
oversight,  were the focus in the first half of 2000.  In late  July,  a  600
square  kilometre  3D  seismic acquisition programme began.   The  programme,
which  is  expected to conclude in September, is being conducted as  a  joint
venture with the Block 16-2 consortium.

Production
Production net to the Group's working interest averaged 8,525 barrels of  oil
per day (BOPD) for the first six months of the year compared to an average of
approximately 6,985 BOPD for the same period last year and 7,205 BOPD for the
full year of 1999.  On a period to period direct comparative basis, including
only production from continuing operations thus excluding the contribution of
the  onshore UK assets sold in October of 1999, the improvement in production
is more dramatic, increasing by 52% from 5,605 BOPD.

Major  increases  in  production resulted both from the  ongoing  development
programme in Yemen and continuing production in Tunisia.  Production  net  to
the Company's working interest from the East Shabwa Development Area in Yemen
increased to 4,653 BOPD, more than doubling the 2,188 BOPD reported  for  the
same  period during the previous year (2,654 BOPD for the full year of 1999).
Net production from Tunisia almost doubled over the reporting period from the
previous year, rising from 786 BOPD to 1,553 BOPD (948 BOPD for the full year
of  1999).   In  Russia,  the priority was on initiation  of  the  waterflood
programme  and  accelerating construction projects.   As  a  result,  Russian
production was down slightly to 2,314 BOPD, dropping off both from the  first
half and full year 1999 of 2,579 BOPD and 2,515 BOPD, respectively.

For the remainder of the year production levels are expected to continue near
current  levels  in Yemen and Russia.  In Tunisia production typically  would
decrease  during the hotter summer months when operating temperatures  reduce
productivity.   Additionally  this  year  a  riser  failure  in  July  caused
production  to be suspended while repairs were made.  A temporary  production
system  is being utilised until a replacement of the original riser has  been
installed.

Subsequent events

In July, the contracting parties of the East Shabwa Development Area in Yemen
(ESDA) reached an agreement with the Ministry of Mineral Resources in Yemen
whereby the ESDA would be reclassified from marginal field status.  Due to
field production performance to date, the development project had exceeded
parameters established for such classification.  The impact on the
contracting parties including SOCO, which holds an indirect 16.785% interest
in the ESDA, is to reduce the total group's net entitlements from
approximately 79% to approximately 58%.  While the change reduces effective
entitlements, the impact is mitigated as the contracting parties are able to
avail themselves of improved cost recoveries, recognise a larger pool of
recoverable costs and benefit from uncapped sales prices.  The effective date
of the agreement is 1 July 2000.

On 2 August, the Company was advised by Petrovietnam, the Vietnamese national
oil  company,  that SOCO had been selected as sole winner of the  tender  for
Block  9-2, offshore Vietnam in the Cuu Long Basin.  Block 9-2 is immediately
east  of Block 16-1 where SOCO has current operations and contiguous to,  and
on  trend  with,  Block 9-1 which contains the Bach Ho (White  Tiger)  field.
Bach Ho was discovered in the 1980's and is currently producing in excess  of
250,000 BOPD.  The award is contingent upon agreement of a Petroleum Contract
with  Petrovietnam,  which  will retain a 50%  interest  in  the  Block,  and
approval by the Vietnamese government.

In late August, Santa Fe Snyder Corporation, which at the end of 1999 was the
second  largest shareholder of SOCO shares after the Toro group, disposed  of
its  11.3% interest in the Company.  Share liquidity increased as the  shares
were placed with multiple investors, none disclosing a notifiable interest at
the time of the transaction.

SOCO  initiated its internet web-site, www.socointernational.co.uk,  in  late
July  as  a  means  to  improve communication between  the  Company  and  its
shareholders and to further promote equal access to corporate information  to
all investors in the Company.

Prospects

Exploration  drilling activity is expected to drop off for the  remainder  of
the  year  as the advent of winter and the production maximisation  programme
effectively halt drilling activity in Mongolia after the drilling of the  19-
12  well.  An exploratory commitment well will be drilled in Tunisia  in  the
Gulf  of  Gabes  on  the  Zarat Permit in which SOCO  has  a  22.22%  working
interest.

The  final  development  well of the Yemen phase II  drilling  programme  was
spudded  in  late  August.   Continuing work  will  be  required  to  sustain
productive  capability  and  handle  the  water  production  which  typically
increases  over  the  productive  life  of  wells  drilled  in  this  region.
Additional exploration and development drilling may be undertaken in the East
Shabwa  Development Area if the upcoming 3D seismic programme  proves  to  be
promising.

In  Russia,  development drilling will commence in the  Ozernoye  field,  the
field in the northern part of the Permtex Contract Area and the one with  the
highest  reserves.  Completion of the northern pipeline in Russia,  which  is
expected  by  the  end of the first quarter next year, will  also  favourably
impact production but significant increases are more likely to be seen in the
first  six months of 2001 as additional wells connected to the Contract  Area
pipeline are brought on-stream.

A  Petroleum Contract is expected to be signed on Block 9-2 offshore  Vietnam
before  year end.  The official award of the Block requires approval  by  the
Vietnamese government and may not occur until after the beginning of 2001.

Outlook

SOCO  continues its initiatives to add meaningful portfolio opportunities  in
the  Middle  East and North and West Africa.  Significant progress  has  been
made   although   no   agreement  has  progressed  to  the   binding   stage.
Additionally,  the  Company continues a review of overlooked  or  undervalued
opportunities that may exist elsewhere in the industry.  With  high  oil  and
gas  prices,  expectations of asset values tend to be  too  optimistic.   The
Group's  forward strategy is clear.  Our strong net cash position enables  us
to  exploit  our  exploration  portfolio during an  unprecedented  period  of
relatively   low   service   costs   whilst   aggressively   pursuing   other
opportunities.   We are confident that our relationship with the  Toro  group
will yield significant dividends and add considerable value to our portfolio.




Patrick Maugein          Ed Story
Chairman            Chief Executive



21 September 2000
Consolidated Profit and Loss Account

                              (unaudited)    (unaudited)              
                               six months    six months        year to
                                    ended         ended      31 Dec 99
                                30 Jun 00    30 June 99         £000's
                                   £000's        £000's
                                                              
 Turnover                    20,429             8,526         23,802
 Cost of sales               (9,791)            (7,445)       (16,310)
                                                              
 Gross profit                10,638             1,081         7,492
 Administrative expenses     (795)              (750)         (1,876)
                                                              
 Operating profit            9,843              331           5,616
 Profit on sale of           -                  -             1,820
 discontinued operations
                                                              
 Profit on ordinary          9,843              331           7,436
 activities before
 finance charges
 Investment income           988                581           998
 Interest payable and        (26)               (85)          (151)
 similar charges
                                                              
 Profit on ordinary          10,805             827           8,283
 activities before
 taxation
 Tax on profit on            (2,073)            (202)         (869)
 ordinary activities
                                                              
 Profit for the              8,732              625           7,414
 financial period
                                                              
 Earnings per share                                           
 Basic                       12.7p              1.2p          12.5p
 Diluted                     12.3p              1.2p          12.4p


Consolidated Statement of Total Recognised Gains and Losses

                              (unaudited)    (unaudited)               
                               six months    six months        year to
                                    ended         ended      31 Dec 99
                                30 Jun 00     30 Jun 99         £000's
                                   £000's        £000's
                                                               
 Profit for the              8,732              625            7,414
 financial period
 Unrealised currency         6,077              3,970          1,951
 translation
 differences
                                                               
 Total recognised gains      14,809             4,595          9,365
 for the period
 Prior year adjustment       -                  (323)          (323)
                                                               
 Total gains recognised                                        
 since last annual           14,809             4,272          9,042
 report and accounts

Consolidated Balance Sheet

                              (unaudited)    (unaudited)               
                                30 Jun 00      30 Jun 99      31 Dec 99
                                   £000's         £000's         £000's
                                                               
 Fixed assets                                                  
 Tangible assets             78,670             73,145         70,051
 Investments                 368                368            368
                             79,038             73,513         70,419
                                                               
 Current assets                                                
 Stocks                      1,262              1,002          1,150
 Debtors                     6,146              8,139          4,834
 Investments (short          18,728             4,230          20,639
 term deposits)
 Cash at bank and in         16,139             2,754          8,152
 hand
                             42,275             16,125         34,775
                                                               
 Creditors: Amounts          (5,817)            (2,639)        (5,677)
 falling due within one
 year
                                                               
 Net current assets          36,458             13,486         29,098
                                                               
 Total assets less           115,496            86,999         99,517
 current liabilities
                                                               
 Creditors: Amounts                                            
 falling due after           (2,642)            -              (1,551)
 more than one year
                                                               
 Provisions for              (714)              (2,951)        (651)
 liabilities and
 charges
                                                               
 Minority interests          (191)              (175)          (175)
                                                               
 Net assets                  111,949            83,873         97,140
                                                               
 Capital and reserves                                          
 Called-up equity share      13,828             10,366         13,828
 capital
 Share premium account       38,367             38,360         38,367
 Other reserves              34,961             29,933         34,961
 Profit and loss             24,793             5,214          9,984
 account
                                                               
 Shareholders' funds         111,949            83,873         97,140

Consolidated Cash Flow Statement

                          (unaudited)    (unaudited)               
                          six months     six months        year to
                               ended          ended      31 Dec 99
                           30 Jun 00      30 Jun 99         £000's
                              £000's         £000's
                                                               
 Net cash inflow from        15,226            1,040           9,175
 operating activities
                                                               
 Returns on investments                                        
 and servicing of
 finance
 Interest received           1,036             268             778
 Interest paid               (6)               (10)            (25)
                             1,030             258             753
                                                               
 Taxation paid               (1,933)           (70)            (571)
                                                               
 Capital expenditure                                           
 Purchase of tangible        (10,666)          (3,969)         (7,589)
 fixed assets
 Sale of tangible fixed      -                 -               8
 assets
                             (10,666)          (3,969)         (7,581)
                                                               
 Acquisitions and                                              
 disposals
 Purchase of subsidiary      -                 -               (427)
 undertaking
 Cash acquired with          -                 -               8,911
 subsidiary undertaking
 Sale of business            -                 -               7,681
                             -                 -               16,165
                                                               
 Cash inflow (outflow)                                         
 before management           3,657             (2,741)         17,941
 of liquid resources
 and financing
                                                               
 Management of liquid                                          
 resources
 (Increase) decrease in      2,652             3,590           (13,028)
 cash on short term
 deposit
                                                               
 Financing                                                     
 Issue of ordinary           -                 2               7
 share capital
 Issue of preference         6                 8               12
 shares to minority
 interests
 Bank loan due after         948               -               1,550
 more than one year
                             954               10              1,569
                                                               
 Increase in cash in         7,263             859             6,482
 the period


Notes

1.   Earnings per share
The  calculation of basic earnings per share is based on the profit  for  the
financial  period  and  on  68,540,732 ordinary shares,  being  the  weighted
average  number  of ordinary shares in issue and ranking for dividend  during
the  period,  excluding 600,000 ordinary shares of the Company  held  by  the
Group.

The  calculation of diluted earnings per share is based on the profit for the
financial  period  and  on  70,975,550 ordinary shares,  being  the  weighted
average  number  of ordinary shares in issue and ranking for dividend  during
the  period, including 1,834,818 outstanding share warrants and options  that
have  a diluting effect on earnings per share and 600,000 ordinary shares  of
the Company held by the Group.

2.   Reconciliation of operating profit to operating cash flows

                        six months     six months        year to
                             ended          ended      31 Dec 99
                         30 Jun 00      30 Jun 99         £000's
                            £000's         £000's

        Operating profit    9,843          331            5,616
Depreciation and depletion  4,310          2,901          6,479
Decommissioning provision   31             48             -
Movement in stocks          93             (314)          (436)
Movement in debtors         393            (1,283)        (2,542)
Movement in creditors       556            (643)          58
Net cash inflow from        15,226         1,040          9,175
operating activities


3.   Analysis and reconciliation of net funds

                        As at                 Exchange        As at
                    31 Dec 99    Cash flow    movement    30 Jun 00
                       £000's       £000's      £000's       £000's
Cash at bank and       8,152         7,263        724         16,139
in hand
Current asset          20,639        (2,652)      741         18,728
investments
Bank loan due                                           
after                 (1,551)       (948)        (143)       (2,642)
more than one
year
Net funds             27,240        3,663        1,322       32,225

   
Current asset investments are term deposits.


Notes continued

4.   Tax on profit on ordinary activities
The tax charge comprises:

                                six months      six months      year to
                                     ended           ended    31 Dec 99
                                 30 Jun 00       30 Jun 99       £000's
                                    £000's          £000's
UK Corporation tax                   -               -               91
Current overseas taxation           2,820           202             784
Deferred overseas taxation          (747)           -               (6)
                                    2,073           202             869

The deferred overseas taxation credit arises on the net of tax losses carried
forward,  foreign  tax  credits  carried  forward  and  fixed  asset   timing
differences.

5.   Basis of preparation
The  financial  information  presented above does  not  constitute  statutory
accounts  within the meaning of section 240 of the Companies Act  1985.   The
financial  information for the year ended 31 December 1999 has  been  derived
from  the  statutory accounts for that year.  Those statutory accounts,  upon
which  the  auditors  issued an unqualified opinion, were  delivered  to  the
Registrar of Companies.

The interim accounts, which are unaudited, have been prepared on the basis of
the  accounting  policies set out in the Group's statutory accounts  for  the
year ended 31 December 1999.

6.   Dividend
The Directors do not recommend the payment of a dividend.