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

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


Vietnam
The first well in the Company’s 2005 multi-well Vietnam drilling programme spudded on 29 January 2005 and is currently running 30” casing. The CNV-3X well in Block 9-2 is an appraisal of the Ca Ngu Vang structure in which a discovery well, the CNV-1X, was drilled in 2002. The discovery well tested a maximum combined rate of approximately 4,500 barrels of crude oil equivalent per day comprised of approximately 3,100 barrels of crude per day and approximately 7.9 million cubic feet of gas per day from a Basement interval.

The CNV-3X well has been designed to drill to a total measured depth of approximately 6,000 metres with a maximum deviation of 80 degrees. The well will test various fault and fracture domains within the granitic Basement in the area of the CNV-1X well. It is anticipated that the well will take some 60-70 days to drill.

Following the completion of the well on Ca Ngu Vang, the current drilling programme plan calls for the rig to move to Block 16-1 to begin drilling an exploration well.

Yemen
After finalising drilling and completion activities on the KHA 403 well, the rig is in the process of being moved to the next location to spud the KHA 404 well. The KHA 403 well was the third well in a multi-well drilling programme, which began in 2004, designed to drill deviated wells targeting the Basement interval.

The KHA 403 well will be tested after the testing equipment is moved from KHA 402 where it has been utilised to conduct a long term production test. Results of the test on the KHA 402, along with those of each of the wells drilled, will be released once they are made available by the operator.

Gross production from the East Shabwa Development Area in Yemen averaged approximately 27,800 barrels of oil per day to date in January 2005. Approximately 30% of the production was attributable to crude produced from the Basement interval.


31 January 2005

ENQUIRIES:

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

College Hill
Tel: 020 7457 2020
Nick Elwes
Ben Brewerton

Notes to editors:
SOCO holds its interests in Vietnam, all in the Cuu Long Basin offshore, through its 80% owned subsidiary SOCO Vietnam Limited ("SOCO Vietnam"). SOCO Vietnam holds a 25% working interest in Block 9-2, which is operated by the Hoan Vu Joint Operating Company and a 28.5% working interest in Block 16-1, which is operated by the Hoang Long Joint Operating Company.

SOCO’s Yemen interests are held through its majority owned (58.75%) shareholding in Comeco Petroleum, Inc. ("Comeco"). Comeco holds a 28.57% working interest in Block 10, East Shabwa Development Area.
 
 
 
 
 
 
 
 

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