Vietnam Operations Update

RNS Number : 2473V

Soco International PLC

27 May 2008

 



SOCO International plc

('SOCO' or the 'Company')

Vietnam Operations Update

Block 16-1

TGD-1X-ST1

Drilling on the Te Giac Den 1X side track well on Prospect 'E' has ceased after reaching 5,096 metres measured depth (MD). Primarily due to concerns over the integrity of the well bore, but also factoring in the difficulty and anticipated time and expense of deepening the hole, the decision was made to not drill an extended Basement section.

The well has been plugged back to 4,820 metres MD prior to conducting two drill stem tests ('DSTs') in the high pressure/high temperature Oligocene interval. The first DST will be over an approximate gross interval of 210 metres in the higher pressured zone below the volcanics layer, which separates the two over-pressured sections. The second DST will be in the upper Oligocene interval above the volcanics layer over an approximate gross interval of 120 metres.  

Testing is expected to be completed toward the end of June 2008.

TGT-6X

The Te Giac Trang 6X appraisal well, drilled on the H4 fault block as a down dip test to the TGT-3X exploration well, reached 3,437 metres MD, as planned.  Two DSTs were planned, the first of which tested an interval between 3,064 metres and 3,094 metres in the Miocene Intra Lower Bach Ho 5.2 ('ILBH') 'lower' interval and flowed approximately 6,650 barrels of oil per day through an 80/64 inch choke size.  

A second DST will commence shortly over an approximate gross interval of 64 metres in the ILBH 5.2 'upper' interval. Testing is expected to be completed by the middle of June 2008.  

Block 9-2

A high sea state has intermittently shut down operations of the pipe lay barge thus causing some delay on the installation of the production and water pipelines between the unmanned CNV well head platform and the Bach Ho central processing platform over which CNV production will be processed. Despite this unanticipated delay, oil production remains on target to begin by the end of July 2008.  

27 May 2008

ENQUIRIES:

SOCO International plc
Roger Cagle, Deputy Chief Executive and Chief Financial Officer 
Tel: [phone]

Pelham Public Relations
James Henderson Tel: [phone]
Alisdair Haythornthwaite Tel: [phone]

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.

 

END

 

 

MSCSEDEEMSASESI