Presidential Decree for Block

RNS Number : 3058O

Soco International PLC

28 June 2010

 



SOCO International plc

('SOCO' or 'the Company')

Presidential Decree for Block 5 in Democratic Republic of Congo

The Company has been informed by its wholly owned subsidiary SOCO Exploration Production DRC SPRL that the Production Sharing Agreement for Block 5 in the Albertine Graben area of the Democratic Republic of Congo ("DRC") has received the Presidential Decree, the final step in the concession award of the block.

The Block, operated by SOCO Exploration Production DRC SPRL, is located at the southern end of the Albertine Rift system and includes part of Lake Edward. During the initial five year exploration period the Block 5 partnership have committed to acquire at least 300 km of seismic data and drill two exploration wells.

The Block 5 partnership consists of SOCO Exploration Production DRC SPRL holding 38.25%, Dominion Petroleum Congo SPRL with 46.75% and the state oil company of the Democratic Republic of Congo Congolaise des Hydrocarbures ("COHYDRO") with 15%.

28th June 2010

ENQUIRIES:

SOCO International plc    Tel: [phone]

Antony Maris, Vice President - Operations and Production

Pelham Bell Pottinger      Tel: [phone]

James Henderson

Evgeniy Chuikov

NOTES TO EDITORS:

SOCO is an international oil and gas exploration and production company, headquartered in London, traded on the London Stock Exchange and a constituent of the FTSE 250 Index. The Company has interests in Vietnam, Thailand, Angola, the Republic of Congo (Brazzaville) and the Democratic Republic of Congo (Kinshasa) with production operations in Vietnam and Thailand.

SOCO holds its interests in the Democratic Republic of Congo through its 80% owned subsidiary SOCO Exploration Production DRC SPRL.

 

END

 

 

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