Soco Encounters Hydrocarbons in Te Giac Trang Wildcat Well

The initial wildcat exploration well, the Te Giac Trang, that spudded in June on the "H" prospect on Block 16-1 offshore Vietnam was drilled to a total measured depth of 4,478 meters and has been cased. Preparations for testing have commenced.

The well was drilled to test several Miocene and Oligocene intervals in a previously un-drilled part of Block 16-1. It was drilled significantly deeper than the original prognosis due to the presence of encouraging hydrocarbon shows continuing below the original target depth.

On completion of the testing program the Atwood Beacon will return to drill an appraisal well, CNV-4X, on the Ca Ngu Vang structure on Block 9-2. This well will be the third well in the multi-well drilling program scheduled for Vietnam this year.

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