Soco International PLC
07 April 2005
SOCO International plc
('SOCO' or 'the Company')
Successful Testing of latest Yemen Well
SOCO is an international oil and gas exploration and production company,
headquartered in London. The Company has continuing interests in Vietnam, Yemen,
Mongolia, Libya and Thailand with ongoing production operations in Yemen and
Mongolia. As announced on 1 April 2005, SOCO has agreed to dispose of its
Mongolian operations, subject to gaining approval from its shareholders.
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-404. The well was drilled as part of the continuing appraisal and
development of the Basement reservoir in the Kharir Field.
The KHA-404 spudded on 1st February 2005 and reached a total depth of 3,539
metres. The objectives of the well were to delineate the Basement and evaluate
reservoir development in the northern extension of the structure. KHA-404
produced over 5,500 barrels of oil per day ('BOPD') when tested earlier this
week and is now connected to Kharir's main production facilities. This marks
the third consecutive success of the four wells drilled thus far in the
programme initiated in August 2004 to evaluate the Basement reservoir in the
Kharir Field. After the first well, KHA-401 was suspended for a technical
review, the KHA-402 well tested at 550 BOPD and the KHA-403 tested at over 6,500
BOPD.
The fifth Basement well in the current ESDA drilling programme, the KHA-405,
spudded on 28th March 2005.
07 APRIL 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
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