Soco International PLC
04 June 2007
SOCO International plc
('SOCO' or 'the Company')
Vietnam Drilling Update
The Company's majority owned subsidiary, SOCO Vietnam Ltd., announces that the
Te Giac Den ('TGD-IX') well, the first well on the Prospect 'E', is currently
preparing to set 95/8 inch casing after encountering high pressure in Oligocene
sands with oil and gas shows.
Once casing is in place, the well will be drilled to its preliminary total depth
near the top of the Basement and evaluated to assess the likelihood of the
Basement being charged with hydrocarbons. This initial target is expected to be
reached in the next 15 days. A forward programme of further drilling and/or
testing will be determined at that time.
High pressure test equipment will not be available until August. Thus, after
drilling on this well has been completed, the rig will move to Block 9-2 to
drill development wells on the Ca Ngu Vang discovery. If required, TGD-1X will
be tested by the Adriatic XI rig, which is expected to be on contract from late
June.
4 June 2007
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
Alisdair Haythornthwaite Tel: 020 7743 6676
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, Yemen, Thailand,
the Republic of Congo (Brazzaville) and the Democratic Republic of Congo
(Kinshasa) with production operations in Yemen.
SOCO holds its interests in Vietnam, all in the Cuu Long Basin offshore, through
its 80% owned subsidiary SOCO Vietnam Ltd. ('SOCO Vietnam') and through its 100%
ownership of OPECO, Inc. SOCO Vietnam holds a 25% working interest in Block 9-2,
which is operated by the Hoan Vu Joint Operating Company and holds a 28.5%
working interest in Block 16-1, which is operated by the Hoang Long Joint
Operating Company. OPECO, Inc. holds a 2% interest in Block 16-1.
This information is provided by RNS
The company news service from the London Stock Exchange
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