Soco International Opens US $45 Million Credit Facility

Soco International reports that the International Finance Corporation ("IFC"), the private sector arm of the World Bank Group has agreed to provide SOCO with a US$45m reserve-based, revolving credit facility.

Commenting on this, Ed Story, Chief Executive Officer, said:

"We are pleased to have instituted this credit facility with the IFC. It gives us increased financial flexibility as we progress several of our projects and it also gives us a strong ally in the countries in which we have current operations as well as those countries in which we may initiate projects in the future."