SOCO International plc (“SOCO” or “the Company”)

SOCO is an international oil and gas exploration and production company, headquartered in London. The Company has exploration activities in Vietnam, Mongolia, Yemen, Thailand and North Korea with production operations in Yemen, Tunisia and Mongolia.

SOCO announces that its subsidiary, SOCO Vietnam Ltd. (“SOCO Vietnam”), has executed a Farm-out Agreement (the “Agreement”) with PTT Exploration and Production Company Limited of Thailand (“PTTEP”), subject to approval of the Government of Vietnam. Per the Agreement, PTTEP will fund SOCO’s and PTTEP’s share of drilling four wells scheduled this year on Blocks 9-2 and 16-1 in the Cuu Long Basin offshore Vietnam to a maximum of US$50,000,000, whichever is less. Post farm-out SOCO Vietnam, in which SOCO holds an 80% interest, retains a 25% interest in Block 9-2 and a 15% interest in Block 16-1.

Ed Story, chief executive of SOCO, commented, “We are delighted to have a company with PTTEP’s experience, expertise and operating capabilities in southeast Asia join in our exploration programme in Vietnam. We are very optimistic about the potential of these prospects and continue to have significant exposure to the upside whilst having limited our potential downside.”
 
 
 
 
 
 
 
 

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