The Hoan Vu Joint Operating Company ("HVJOC") acknowledged the receipt of unanimous approval of the Declaration of Commerciality on the Ca Ngu Vang ("CNV") field on Block 09-2, offshore Vietnam, by the shareholders of the HVJOC.
Ed Story, President and Chief Executive of SOCO, commented:
"The Declaration of Commerciality for the Ca Ngu Vang oil field is the first affirmation of the commercial success of our exploration efforts in Vietnam. We are confident that there will be more to follow in this oil rich exploration province consisting of multiple, extensive high quality productive reservoirs."
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