PHAROS ENERGY PLC

Report Publication Announcement • Feb 26, 2016

National Storage Mechanism | Additional information

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RNS Number : 2295Q

Soco International PLC

26 February 2016

SOCO International plc

("SOCO" or the "Company")

DRILLING RESULTS ON BAOBAB MARINE-1 WELL

AT MER PROFONDE SUD

SOCO, an international oil and gas exploration and production company, announces that the Baobab Marine-1 ("BABM-1") commitment well drilled in the Mer Profonde Sud Block, located in the Lower Congo Basin, offshore the Republic of Congo reached total depth on 25 February 2016.

The well was drilled by the deepwater drillship Noble Globetrotter II on the RR Prospect to a measured depth of 3,275 metres and intersected the stacked early Miocene channel complexes that were targeted.  Although good quality sands were present, no hydrocarbons were encountered, suggesting lack of communication with the known oil source. 

Barring any complications with plugging and abandonment operations, the well should come in under budget and was drilled safely with no lost time accidents. 

ENQUIRIES:

SOCO International plc

Antony Maris, Chief Operating Officer

Tel: 020 7747 2000

Bell Pottinger

Nick Lambert 

[email protected]

020 3772 2558

Elizabeth Snow

[email protected]

020 3772 2582

NOTES TO EDITORS

SOCO is an international oil and gas exploration and production company, headquartered in London and traded on the London Stock Exchange. The Company has field development and production interests in Vietnam and exploration and appraisal interests in the Republic of Congo (Brazzaville) and Angola.

This information is provided by RNS

The company news service from the London Stock Exchange

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