SOCO reports progress offshore Vietnam

The Te Giac Trang appraisal well (TGT-2X) on block 16-1 in the Cuu Long basin offshore Vietnam reached a total measured depth of 3,436 m.

Offshore staff

(Asia-Pacific) - SOCO International Plc says the Te Giac Trang appraisal well (TGT-2X) on block 16-1 in the Cuu Long basin offshore Vietnam reached a total measured depth of 3,436 m.

The well is currently being logged prior to testing. Initial indications from a preliminary log interpretation suggest that there may be multiple zones of interest.

The well was spudded on January 18 as an up dip follow-up well to last year's TGT-1X discovery well that tested from a single Miocene interval at a combined maximum rate of 9,432 boe/d comprised of 8,566 b/d of oil of 37° API gravity crude and approximately 4.86 MMcf/d of gas through a 80/64-in. choke size.

The Hoang Long Joint Operating Co., operator, anticipates that testing will take several weeks.

The Cuu Long basin is the major target to date for oil production in Vietnam, estimated to contain 30% of the country's total hydrocarbon resources (7-8 Bboe).

02/15/06

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