Drilling Update

Soco International PLC
14 February 2003



                SOCO International plc ('SOCO' or 'the Company')


                Completion of Initial Vietnam Drilling Programme


SOCO is an international oil and gas exploration and production company,
headquartered in London.  The Company has interests in Vietnam, Mongolia, Yemen,
Libya, Tunisia, Thailand and North Korea with production operations in Yemen,
Tunisia and Mongolia.

SOCO Vietnam Limited ('SOCO Vietnam'), SOCO's 80% owned subsidiary, and partners
have completed the final well in the initial four well exploration drilling
programme offshore Vietnam in the Cuu Long Basin.  The Ca Ong Doi-1X ('COD-1X')
vertical exploration well was drilled to a total depth of 4,618 metres
terminating in granite wash.

The well encountered more than 1,050 metres of oil shows from inter-bedded
Oligocene sands and shale source rocks.  A drill stem test ('DST') was conducted
over an open hole section from 3,565 metres to 4,618 metres.  However, the
interval was not heavily fractured and reservoir quality was therefore
inadequate to yield commercial quantities of hydrocarbons.

From seismic re-interpretation, the COD-1X well appeared to be approximately
five kilometres from the top of the Basement structure in a location chosen to
test both Oligocene and Basement potential.  On the basis of information gained
from this well, the Company expects a subsequent exploration well will be
drilled on the newly interpreted crest of the Basement structure.

The COD-1X was the fourth and final well drilled under terms of a 2002 farm-out
agreement wherein SOCO Vietnam was carried up to a maximum amount of US$50
million by PTT Exploration and Production Public Company Limited of Thailand.
Following its release from this well, the drilling rig will be moved immediately
to a location on Block 16-1 to spud another exploration well on prospect 'A' as
a follow-up to the Voi Trang discovery last year which tested 3,500 barrels of
oil per day ('BOPD').  This will be the first of an expected four to five
exploration/appraisal well programme for 2003.

SOCO holds a 25% working interest in Block 9-2 and a 28.5% interest in Block
16-1, pending finalisation of a transaction to acquire one half of the interest
in the Block currently held by a subsidiary of Amerada Hess.  Both Blocks are
contiguous to the Bach Ho field, which is producing approximately 250,000 BOPD
and 150 million cubic feet of gas per day, and the Rang Dong field, which is
producing approximately 65,000 BOPD and 85 million cubic feet of gas per day.

Ed Story, President and Chief Executive of SOCO, commented:

'We've enjoyed the rare success of having drilled four exploration wells in the
Basin and encountering oil in all the wells.  Two of these were significant
discoveries.  Although the COD-1X well location lacked adequate reservoir in the
Oligocene, the well penetrated over 1,000 metres of oil bearing source rock on
the flank of this large Basement structure.  This geological setting arguably
ranks this structure as one of the best sourced oil regimes in the world.  We
remain very enthusiastic about the potential of prospect 'C' on Block 9-2 and
expect to demonstrate this potential with another well once all of the data can
be integrated into a new interpretation.  In the meantime, we will continue an
active four to five well exploration and appraisal programme in 2003 on the
prospects in Blocks 16-1 and 9-2.'

                                                              14 February 2003

ENQUIRIES:


SOCO International plc                      Tel: [phone]
Ed Story, Chief Executive
Roger Cagle, Chief Financial Officer

College Hill                                Tel: [phone]
Archie Berens




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