Soco Successfully Tests Latest Yemen Well
Soco International's majority owned subsidiary, Comeco Petroleum, through which the Company holds a 16.785% interest in the East Shabwa Development Area in Yemen ("ESDA"), announces the successful production test of the KHA-404. The well was drilled as part of the continuing appraisal and development of the Basement reservoir in the Kharir Field.
The KHA-404 spudded on February 1, 2005 and reached a total depth of 3,539 meters. The objectives of the well were to delineate the Basement and evaluate reservoir development in the northern extension of the structure. KHA-404 produced over 5,500 barrels of oil per day ("BOPD") when tested earlier this week and is now connected to Kharir's main production facilities. This marks the third consecutive success of the four wells drilled thus far in the programme initiated in August 2004 to evaluate the Basement reservoir in the Kharir Field. After the first well, KHA-401 was suspended for a technical review, the KHA-402 well tested at 550 BOPD and the KHA-403 tested at over 6,500 BOPD.
The fifth Basement well in the current ESDA drilling program, the KHA-405, spudded on March 28, 2005.
- SOCO: Congo Baobab Marine-1 Well Comes up Dry (Feb 26)
- British Oil Company Soco Says No Longer Holds Congo Block Permit (Nov 03)
- SOCO Net Profit, Production Down (Aug 05)