Last checked at 23 Nov 2009 07:00
SOCO International plc
("SOCO" or the "Company")
SUCCESSFUL TEST OF THE VIODO 4 WELL ON MARINE XI
The Viodo Marine 4 vertical appraisal well ("VIM-4") located in the Marine XI Block offshore the Republic of Congo (Brazzaville) has tested at a combined maximum flow rate of approximately 2,600 barrels of oil per day ("BOPD") and 7.0 million standard cubic feet of gas per day ("MMSCFD") following two drill stem tests ("DSTs").
In the first drill stem test from the deeper Carbonate section between 2,240 to 2,273 metres, the well flowed at initial post-acid rates of approximately 2,600 BOPD and 2.5 million MMSCFD on a 3/4 inch choke. Flow rates stabilized at approximately 1,100 BOPD on a 1/2 inch choke after an approximate seven hour flow period. A test of the upper Carbonate section, between 2,205 and 2,230 metres, flowed at post-acid rates of approximately 4.5 MMSCFD.
The objectives of the well are to further delineate the field, gather data that would allow the 3D seismic to be used to map the distribution of reservoir quality limestone and to test the effectiveness of a completion strategy that could be applied to high angle development wells.
The results of the well and the reprocessed seismic will now be incorporated into a 3D model that will be used as a tool to assess the commerciality of the accumulation.
As planned the well will be plugged and abandoned and the jack-up drilling rig Pride Cabinda will be released.
Ed Story, President and Chief Executive of SOCO, commented:
"We are pleased to have a successful well under our belts at the early stages of our ambitious drilling programme. The results of this well provide greater confidence over the Viodo Field's reserve range and will be invaluable in planning the field development. Moreover, the Company successfully completed the initial drilling campaign in a new part of the world for us. The technical lessons learnt should be invaluable in planning the wells for other larger targets on the block."
23 November 2009
ENQUIRIES:
SOCO International plc
Antony Maris, Vice President - Operations and Production
Tel: 020 7747 2000
Pelham Public Relations
James Henderson Tel: 020 7337 1500
Mark Antelme Tel: 020 7337 1505
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 the Republic of Congo, all offshore in the Lower Congo Basin, through its 85% owned subsidiary, SOCO Exploration and Production Congo SA (SOCO EPC) which is the designated operator of the two Blocks.