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

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 and Thailand with ongoing production operations in Yemen. SOCO’s transaction to dispose of its Mongolian operations is pending completion after gaining approval from its shareholders at an EGM on 10 May 2005.

The Company today announces that the International Finance Corporation ("IFC"), the private sector arm of the World Bank Group has agreed to provide Soco with a US$45m reserve-based, revolving credit facility.

Commenting on this, Ed Story, Chief Executive Officer, said:

"We are pleased to have instituted this credit facility with the IFC. It gives us increased financial flexibility as we progress several of our projects and it also gives us a strong ally in the countries in which we have current operations as well as those countries in which we may initiate projects in the future."


16 August 2005


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
Charles Vivian Tel: 020 7743 6672
 
 
 
 
 
 
 
 

SOCO is aware of attempts to impersonate the company on social media. SOCO does not have a Facebook page.