SOCO notes the recent movement in the Company’s share price and can confirm that drilling is still in progress on the Te Giac Den sidetrack well (“16.1-TGD-1X-ST1”), the deep high pressure, high temperature well on Prospect "E" in Block 16-1, offshore Vietnam. SOCO has no information about the future results of 16-1-TGD-IX-ST1 at this stage, but an update on the status of the well is provided below.

The well is currently drilling in the Oligocene clastics with an estimated 80 metres of clastics to drill before reaching the top of Basement. The plan is to drill a few metres into Basement and then run logs and pressure tests. We would then expect to set a seven inch liner before drilling further into Basement. This is in accordance with the pre-drilling plan should hole conditions and up-hole information support drilling into Basement.

Information gathered while drilling through the Oligocene section is insufficient at this point to determine the likelihood that this interval would or would not be productive. The higher mud weights mean that the hydrocarbon shows are not as pronounced as those in the same zones in the original well bore. There are also some stratigraphic variations between the well bores, which is similar to the results from analogous wells in the basin.

Once the liner is in place, the well will be drilled approximately 300 to 500 metres into Basement after which the Company would expect to make another release regarding the testing programme. The casing operation and drilling is expected to take approximately three weeks, barring operational difficulties.

10 April 2008


ENQUIRIES:

SOCO International plc
Roger Cagle, Deputy Chief Executive and Chief Financial Officer
Tel: 020 7747 2000

Pelham Public Relations
James Henderson Tel: 020 7743 6673
Alisdair Haythornthwaite Tel: 020 7743 6676


NOTES TO EDITORS:

SOCO holds its interests in Vietnam through its 80% owned subsidiary SOCO Vietnam Ltd which holds a 25% working interest in Block 9-2 and a 28.5% working interest in Block 16-1. Block 9-2 is operated by the Hoan Vu Joint Operating Company and Block 16-1 is operated by the Hoang Long Joint Operating Company. OPECO, Inc. holds a 2% interest in Block 16-1.

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, Yemen, Thailand, the Republic of Congo (Brazzaville), the Democratic Republic of Congo (Kinshasa) and Angola with production operations in Yemen. Its production operations in Yemen are currently the subject of a conditional sale and purchase agreement announced earlier this year.
 
 
 
 
 
 
 
 

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