Last checked at 26 Feb 2016 07:00
SOCO International plc
("SOCO" or the "Company")
DRILLING RESULTS ON BAOBAB MARINE-1 WELLAT MER PROFONDE SUD
SOCO, an international oil and gas exploration and production company, announces that the Baobab Marine-1 ("BABM-1") commitment well drilled in the Mer Profonde Sud Block, located in the Lower Congo Basin, offshore the Republic of Congo reached total depth on 25 February 2016.
The well was drilled by the deepwater drillship Noble Globetrotter II on the RR Prospect to a measured depth of 3,275 metres and intersected the stacked early Miocene channel complexes that were targeted. Although good quality sands were present, no hydrocarbons were encountered, suggesting lack of communication with the known oil source.
Barring any complications with plugging and abandonment operations, the well should come in under budget and was drilled safely with no lost time accidents.
ENQUIRIES:
SOCO International plc
Antony Maris, Chief Operating Officer
Tel: 020 7747 2000
Bell Pottinger
Nick Lambert
nlambert@bellpottinger.com
020 3772 2558
Elizabeth Snow
esnow@bellpottinger.com
020 3772 2582
NOTES TO EDITORS
SOCO is an international oil and gas exploration and production company, headquartered in London and traded on the London Stock Exchange. The Company has field development and production interests in Vietnam and exploration and appraisal interests in the Republic of Congo (Brazzaville) and Angola.