Marine XI Award Finalized

SOCO says the award announced in August 2005 for a 75% working interest in the Production Sharing Contract (PSC) covering the Marine XI block, offshore the Republic of Congo (Brazzaville) has been finalized. During its extraordinary session, the Congolese Parliament and the Senate approved the terms of the Marine XI PSC. The law became effective March 30th when signed by the President of the Republic.

SOCO is an international oil and gas exploration and production company, headquartered in London, traded on the London Stock Exchange and a constituent of the FTSE 250 Index. The Company has continuing interests in Vietnam, Yemen, Thailand and the Republic of Congo (Brazzaville) with ongoing production operations in Yemen.

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