Successful Well Testing
Soco International PLC
03 January 2006
SOCO International plc
('SOCO' or 'the Company')
SUCCESSFUL TESTING OF YEMEN EXPLORATION WELL
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 continuing interests in Vietnam, Yemen,
Libya, Thailand and the Republic of Congo with ongoing production operations in
Yemen.
The Company's majority owned subsidiary, Comeco Petroleum, Inc. ('Comeco'),
through which the Company holds a 16.785% net working interest in the East
Shabwa Development Area in Yemen ('ESDA'), announces the successful production
test of the Jathma-1 exploration well ('JAT-01'). The well was drilled to
explore a new prospect on the Basement reservoir in the northern area of Block
10.
The JAT-01 well spudded on 22nd October 2005 and reached a total depth of 3,175
metres Measured Depth ('MD'). The well tested over 1900 barrels of oil per day
against a 56/64 inch choke with an API gravity of 35 degrees. Further evaluation
of the results will be carried out to establish the productivity of the well and
the most appropriate development scenario.
The rig has since moved to drill the KHA-1-07.G1 well, a horizontal water
injection well within the existing proven Kharir Basement field to provide
pressure support for the nearby KHA-2-16 well. The well commenced drilling on
the 20th December 2005.
A second drilling rig spudded the Jathma-2 well, the second Basement exploration
well, on a separate location in the northern part of the Block on the 8th
December 2005 and is currently drilling at 2436 metres. A third rig commenced
drilling a production well on the Atuf Northwest Field on the 12th December
2005.
3 January 2006
ENQUIRIES:
SOCO International plc
Roger Cagle, Deputy Chief Executive and Chief Financial Officer
Tel: 020 7747 2000
Pelham Public Relations
James Henderson
Alisdair Haythornthwaite
Tel: 020 7743 6676
NOTES TO EDITORS
Comeco, in which SOCO holds a 58.75% interest, has a 28.57% interest in the ESDA
in Block 10 in Yemen. The East Shabwa joint venture is operated by TOTAL E & P
Yemen (28.57% interest) under a production sharing agreement with the government
of Yemen. The other joint venture partners are Occidental Yemen Ltd. (28.57%
interest) and Kuwait Foreign Petroleum Exploration Co. (14.29% interest).
This information is provided by RNS
The company news service from the London Stock Exchange
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