SOCO provided an update on its operations in Vietnam and the Democratic Republic of Congo.
Block 16-1 (Offshore Vietnam)
Te Giac Trang (TGT)
The Company has been informed by the Hoang Long Joint Operating Company, Operator of Block 16-1 in the Cuu Long Basin offshore Vietnam, that the first well in the TGT development/appraisal drilling program, the TGT-H1-1P spudded on August 17. The well is targeting an interval near the TGT-2X exploration well. Wells drilled in the program will be retained as producing wells and will not be tested prior to being brought on stream for production in mid-2011.
Te Giac Den (TGD)
The 9 5/8" casing has just been cemented in place and tested in the TGD-2X appraisal well. Following testing of the wellhead and blow out preventer, the well is expected to commence drilling into the reservoir section later this week.
Nganzi Block (Onshore Democratic Republic of Congo)
The Nganga-1 well, on previously designated Prospect "B", is now drilling in the 12 ¼" section of the hole just prior to running and cementing the 9 5/8" casing. Following this, the well will be drilled into the primary reservoir section.
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