Soco International PLC
04 August 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 traded on the London Stock Exchange and a constituent of
the FTSE 250 Index. The Company has continuing interests in Vietnam, Yemen,
Mongolia, Libya and Thailand with ongoing production operations in Yemen and
Mongolia. 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 initial wildcat exploration well, the Te Giac Trang, that spudded on 2 June
2005 on the 'H' prospect on Block 16-1 offshore Vietnam was drilled to a total
measured depth of 4,478 metres and has been cased. Preparations for testing have
commenced.
The well was drilled to test several Miocene and Oligocene intervals in a
previously un-drilled part of Block 16-1. It was drilled significantly deeper
than the original prognosis due to the presence of encouraging hydrocarbon shows
continuing below the original target depth.
On completion of the testing programme the rig will return to drill an appraisal
well, CNV-4X, on the Ca Ngu Vang ('CNV') structure on Block 9-2. This well will
be the third well in the multi-well drilling programme scheduled for Vietnam
this year.
4 August 2005
ENQUIRIES:
SOCO International plc
Roger Cagle Deputy Chief Executive and
Chief Financial Officer Tel: 020 7747 2000
Pelham Public Relations
James Henderson Tel: 020 7743 6673
Charles Vivian Tel: 020 7743 6672
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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