Soco International PLC
18 February 2005
SOCO International plc
('SOCO' or 'the Company')
Successful Testing of Two Yemen Wells
SOCO is an international oil and gas exploration and production company,
headquartered in London. The Company has continuing interests in Vietnam,
Mongolia, Yemen, Libya and Thailand with ongoing production operations in Yemen
and Mongolia.
The Company's majority owned subsidiary, Comeco Petroleum, Inc. ('Comeco'),
through which the Company holds a 16.785% interest in the East Shabwa
Development Area in Yemen ('ESDA'), announces the successful production test of
the KHA-403 and extended production test results of the KHA 402 well. Both wells
were drilled as part of the continuing appraisal and development of the Basement
reservoir in the Kharir Field.
The KHA-403 spudded on 6 December 2004 and reached a total depth of 3,383
metres. The objectives of the well were to delineate the Basement and evaluate
reservoir development in the undrilled western extension of the structure.
KHA-403 produced over 6,500 barrels of oil per day ('BOPD') when tested earlier
this month and is now connected to Kharir's main production facilities.
The KHA-402 well spudded on 17 October 2004 and reached a total depth of 3,441
metres on 20 November 2004. The well was drilled to test the potential of the
eastern end of the Kharir field on the flank of the structure. The well was
tested between 15 December 2004 and 18 December 2004 achieving a rate of 550
BOPD before being shut-in for a long term test. It was re-opened 26 January
2005 and the rate stabilized at approximately 710 BOPD on 13 Feb 2005.
The fourth Basement well in the current ESDA drilling programme, the KHA-404,
spudded on 1 February.
18 February 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
Comeco, in which SOCO holds a 58.75% interest, has a 28.57% interest in the ESDA
in Block 10 in Yemen. The East Shabwa joint venture is operated by TOTAL Yemen,
S.A. (28.57% interest) under a production sharing agreement with the government
of Yemen. The other joint venture partners are Occidental Yemen Ltd. (28.57%
interest) and Kuwait Foreign Petroleum Exploration Co. (14.29% interest).
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.