Soco International PLC
07 December 2004
SOCO International plc
('SOCO' or 'the Company')
Yemen Drilling Update
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 an update of the three well
appraisal and development programme planned for 2004 targeting the Basement in
the Kharir Field. After installing the completion package in preparation for
testing the KHA-402, the second well in the programme, the drilling rig has
moved to spud the third location.
The KHA-402 well spudded on 17th October 2004 and reached a total depth of 3,441
metres. The well was drilled to test the potential of the far eastern end of the
Kharir field and to evaluate the prospectivity along the flanks of the crestal
area. The main objective of the KHA 402 well is to test potentially productive
fractures identified on seismic, targeting prominent fault zones due south of
the KHA-210 discovery well.
Oil and gas shows were encountered throughout the Basement in this first
deviated appraisal well (37 degrees). The KHA-402 was suspended prior to the
installation and hook up of the surface production equipment. Oil production
testing is expected to begin in mid-December. A further update will be issued
when testing results are available.
7 December 2004
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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