Pharos Energy Regulatory News (PHAR)

RNS Number : 7207J

Soco International PLC

06 April 2010

 

SOCO International plc

('SOCO' or the 'Company')

 

Beginning of Phase II Development Drilling on Ca Ngu Vang

 

The Company has been informed by the Hoan Vu Joint Operating Company, Operator of Block 9-2 in the Cuu Long Basin offshore Vietnam, that the second phase of development has begun on the Ca Ngu Vang oil and gas field. The jack up rig Offshore Resolute, owned by Scorpion Offshore, and contracted through PetroVietnam Drilling, has commenced the first well in the programme. The CNV-6P-ST1 well is expected to take approximately 60 days to drill.

 

 

6th April 2010

 

 

 

ENQUIRIES:

SOCO International plc

Antony Maris, Vice President, Operations and Production

Tel: 020 7747 2000

 

Pelham Public Relations

James Henderson Tel: 020 7337 1500

Evgeniy Chuikov Tel: 020 7337 1550

 

 

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, Thailand, the Republic of Congo (Brazzaville), the Democratic Republic of Congo (Kinshasa) and Angola, with production operations in Vietnam and Thailand.

 

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.

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