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.

The Company’s majority owned subsidiary, Comeco Petroleum, Inc. ("Comeco"), through which the Company holds a 16.785% interest in the East Shabwa Development Area in Yemen ("ESDA"), announces an update of the three well appraisal and development programme planned for 2004 targeting the Basement in the Kharir Field. After installing the completion package in preparation for testing the KHA-402, the second well in the programme, the drilling rig has moved to spud the third location.

The KHA-402 well spudded on 17th October 2004 and reached a total depth of 3,441 metres. The well was drilled to test the potential of the far eastern end of the Kharir field and to evaluate the prospectivity along the flanks of the crestal area. The main objective of the KHA 402 well is to test potentially productive fractures identified on seismic, targeting prominent fault zones due south of the KHA-210 discovery well.

Oil and gas shows were encountered throughout the Basement in this first deviated appraisal well (~37 degrees). The KHA-402 was suspended prior to the installation and hook up of the surface production equipment. Oil production testing is expected to begin in mid-December. A further update will be issued when testing results are available.

7 December 2004


ENQUIRIES:

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

College Hill
Tel: 020 7457 2020
Ben Brewerton
Nick Elwes


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 Yemen, S.A. (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).
 
 
 
 
 
 
 
 

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