Last checked at 4 Nov 2014 07:00
4 November 2014
SOCO International plc
("SOCO" or the "Company")
Lidongo X Marine 101 well offshore Congo (Brazzaville) - test results
SOCO announces that SOCO EPC, operator of the Marine XI Block offshore the Republic of Congo (Brazzaville), has successfully completed testing the exploration well Lidongo X Marine 101 ST1 well ("LXM-101"). The well significantly exceeded pre-test expectations, reaching a post stimulation frac peak rate of 5,174 barrels of oil per day ("BOPD") and 3.65 million standard cubic feet of gas per day ("MMSCFD").
As previously announced, the LXM-101 well, located 23 kilometres northwest of Pointe Noire in a water depth of approximately 45 metres, was drilled to a total depth of 2,665 metres. The well encountered oil in a clastics sequence in the Djeno sand formation with drilling shows and early log interpretation indicating approximately a 50 metre gross interval.
The test, over a perforated 20 metre section, produced at a stable average flow rate of 4,800 BOPD and 3.5 MMSCFD on a 56/64" fixed choke with a flowing wellhead pressure of 778 psi following the successful execution of the stimulation frac. The oil quality was 32 degrees API.
The well results will now be analysed in order to determine the continuity of the well with the nearby discovery in the Marine XII Block.
SOCO EPC holds a 40.39% interest in the Marine XI Block. Project partners are WNR (23%), SNPC (15%), AOGC (13.11%) and PetroVietnam Exploration and Production (PVEP) (8.5%).
ENQUIRIES:SOCO International plc
Antony Maris, Chief Operating Officer
Tel: 020 7747 2000
Bell Pottinger
Nick Lambert
Elizabeth Snow
Tel: 020 3772 2500
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, the Republic of Congo (Brazzaville), the Democratic Republic of Congo (Kinshasa) and Angola, with production operations in Vietnam.