Soco International PLC
02 October 2006
SOCO International plc
('SOCO' or 'the Company')
Successful Testing of Well KHA 1-16, Yemen
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.
The Company's majority owned subsidiary, Comeco Petroleum, Inc. ('Comeco'),
through which the Company holds a 16.785% net working interest in the East
Shabwa Development Area in Yemen ('ESDA'), announces that the KHA 1-16 produced
over 8,400 barrels of oil per day ('BOPD') when tested against a 70/64 inch
choke. The well was drilled on the eastern most 3D seismic parameter as part of
the continuing appraisal and development of the Basement reservoir in the Kharir
Field.
The KHA 1-16 spudded on 5th June 2006 and reached a total depth of 3,298 metres
measured depth. The objective of the well was to evaluate reservoir development
in the eastern extension of the structure as currently mapped. Success with this
well extends the Kharir field to the east beyond the current 3D seismic.
Ed Story commented:
'This is significant to the Basement reserves in the Kharir Field that continue
to increase. The consortium will evaluate the results of this well to decide
upon the approach to accessing the further extension of the eastern part of the
Kharir field.'
2 October 2006
ENQUIRIES:
SOCO International plc Tel: 020 7747 2000
Roger Cagle, Deputy Chief Executive and Chief Financial Officer
Pelham Public Relations
James Henderson Tel: 020 7743 6673
Alisdair Haythornthwaite Tel: 020 7743 6676
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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