SOCO Tests Positive Oil, Gas Flows in Marine XI Block

The Viodo Marine 4 vertical appraisal well ("VIM-4") located in the Marine XI Block offshore the Republic of Congo (Brazzaville) has tested at a combined maximum flow rate of approximately 2,600 barrels of oil per day ("BOPD") and 7.0 million standard cubic feet of gas per day ("MMSCFD") following two drill stem tests ("DSTs").

In the first drill stem test from the deeper Carbonate section between 2,240 to 2,273 meters, the well flowed at initial post-acid rates of approximately 2,600 BOPD and 2.5 million MMSCFD on a 3/4 inch choke. Flow rates stabilized at approximately 1,100 BOPD on a 1/2 inch choke after an approximate seven hour flow period. A test of the upper Carbonate section, between 2,205 and 2,230 meters, flowed at post-acid rates of approximately 4.5 MMSCFD.

The objectives of the well are to further delineate the field, gather data that would allow the 3D seismic to be used to map the distribution of reservoir quality limestone and to test the effectiveness of a completion strategy that could be applied to high angle development wells.

The results of the well and the reprocessed seismic will now be incorporated into a 3D model that will be used as a tool to assess the commerciality of the accumulation.

As planned the well will be plugged and abandoned and the jack-up drilling rig Pride Cabinda will be released.

Ed Story, President and Chief Executive of SOCO, commented, "We are pleased to have a successful well under our belts at the early stages of our ambitious drilling program. The results of this well provide greater confidence over the Viodo Field's reserve range and will be invaluable in planning the field development. Moreover, the Company successfully completed the initial drilling campaign in a new part of the world for us. The technical lessons learnt should be invaluable in planning the wells for other larger targets on the block."