Soco International PLC
16 August 2005
SOCO International plc
('SOCO' or 'the Company')
Provision by International Finance Corporation
of the World Bank of US$45 Million Credit Facility
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 continuing interests in Vietnam, Yemen,
Libya and Thailand with ongoing production operations in Yemen. SOCO's
transaction to dispose of its Mongolian operations is pending completion after
gaining approval from its shareholders at an EGM on 10 May 2005.
The Company today announces that the International Finance Corporation ('IFC'),
the private sector arm of the World Bank Group has agreed to provide Soco with a
US$45m reserve-based, revolving credit facility.
Commenting on this, Ed Story, Chief Executive Officer, said:
'We are pleased to have instituted this credit facility with the IFC. It gives
us increased financial flexibility as we progress several of our projects and it
also gives us a strong ally in the countries in which we have current operations
as well as those countries in which we may initiate projects in the future.'
16 August 2005
ENQUIRIES:
SOCO International plc
Roger Cagle Deputy Chief Executive and Tel: 020 7747 2000
Chief Financial Officer
Pelham Public Relations
James Henderson Tel: 020 7743 6673
Charles Vivian Tel: 020 7743 6672
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.