Soco Successfully Tests Two Wells in Yemen

Soco Internationals's majority owned subsidiary, Comeco Petroleum through which the Company holds a 16.785% interest in the East Shabwa Development Area in Yemen, announces the successful production test of the KHA-403 and extended production test results of the KHA 402 well. Both wells were drilled as part of the continuing appraisal and development of the Basement reservoir in the Kharir Field.

The KHA-403 spudded on 6 December 2004 and reached a total depth of 3,383 meters. The objectives of the well were to delineate the Basement and evaluate reservoir development in the undrilled western extension of the structure. KHA-403 produced over 6,500 barrels of oil per day when tested earlier this month and is now connected to Kharir's main production facilities. The KHA-402 well spudded on 17 October 2004 and reached a total depth of 3,441 meters on 20 November 2004. The well was drilled to test the potential of the eastern end of the Kharir field on the flank of the structure. The well was tested between 15 December 2004 and 18 December 2004 achieving a rate of 550 BOPD before being shut-in for a long term test. It was re-opened 26 January 2005 and the rate stabilized at approximately 710 BOPD on 13 Feb 2005.

The fourth Basement well in the current ESDA drilling program, the KHA-404, spudded on February 1st.