Soco to Spud COD-2X Offshore Vietnam

SOCO Vietnam is preparing to spud the first Clastics targeted well on Block 9-2 with the Ca Ong Doi 2X ("COD-2X") well. The drilling rig is on site after an extended weather delay while it was waiting to be towed from the Te Giac Trang 5X well on Block 16-1, which tested at a total combined maximum flow rate of approximately 16,430 barrels of oil equivalent per day.

The COD-2X well is designed to evaluate the Clastics reservoirs that have been successfully tested on Block 16-1. It is anticipated that this well will take approximately 40 days to drill. Testing, if required, would add several weeks. The spudding of this well will mark the beginning of the most active annual drilling program in the Company's history.

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