Last checked at 16 Oct 2014 07:00
16 October 2014
SOCO International plc
("SOCO" or the "Company")
Well update - Lidongo X Marine 101 offshore Congo (Brazzaville)
SOCO announces that SOCO EPC, operator of the Marine XI Block offshore the Republic of Congo (Brazzaville), has completed drilling the exploration well Lidongo X Marine 101 well ("LXM-101").
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.
Located 23 kilometres northwest of Pointe Noire in a water depth of approximately 45 metres, the LXM-101 well was drilled to a total depth of 2,665 metres after penetrating the target hydrocarbon zone. Analysis of the logs over the hydrocarbon zone indicates petrophysical parameters in line with those published for the Litchendjili field on the adjacent Marine XII Block operated by ENI.
Due to the tight nature of the reservoir sands a 20 metre section has been selected for testing. The zone will be tested after a 7" liner is set and cemented. Testing, including utilising a stimulation frac, is expected to take approximately three weeks. After the completion of testing there will be a further release with results.
SOCO EPC holds a 40.39% interest in the Marine XI Block. Project partners are WNR (23%), SNPC (15%), AOGC (13.11%) and PetroVietnam (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.