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 it has executed a Share Exchange Agreement (the “Agreement”) with the minority shareholders of SOCO Vietnam Ltd. (“SOCO Vietnam”). Under the terms of the Agreement, SOCO has acquired an additional 10% stake increasing its interest in the majority owned subsidiary from 70% to 80%. The consideration for the exchange was £1,753,153 paid for by issuing 926,124 ordinary shares of 20p each (valuing each share at £1.893) in the share capital of SOCO, representing approximately 1.3 % of the enlarged issued and outstanding share capital of 71,053,833 shares. Application will be made for the 926,124 ordinary shares of 20p each to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange.

SOCO Vietnam’s only assets are its 50% interest in Block 9-2 and 30% interest in Block 16-1, both in the Cuu Long Basin offshore Vietnam. The Company expects to commence a multi-well drilling programme in both Blocks in May of this year.
 
 
 
 
 
 
 
 

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