SOCO’s Well Offshore Vietnam Beats Expectations

SOCO's Well Offshore Vietnam Beats Expectations

SOCO International has announced that the drill stem tests thus far on the TGT-10XST1 well exploration well on the H5 fault block of the Te Giac Trang (“TGT”) field, offshore Vietnam, have exceeded all pre-test expectations.

Combined peak production from two of the three zones tested is over 16,500 barrels of oil per day (“BOPD”). The third drill stem test in the well, which encountered approximately 250 metres of gross pay section (approximately 119 metres of net pay) in the Miocene and Oligocene reservoir horizons, is now underway.

The first test, over a net 93 metre section in the Oligocene “C”, produced at a maximum rate of 9,488 BOPD and 1.16 million standard cubic feet of gas per day (“MMSCFD”) of 41.1 degree API oil. The second test, over the Miocene Lower 5.2L sequence, tested a net 47.3 metres interval. The maximum flow achieved over this interval was 7,100 BOPD and 1.76 MMSCFD.

The final test is of the Lower Miocene Intra Lower Bach Ho 5.2 Upper and Lower sequence, testing an additional net 88.6 metres. This test has just begun and should be completed in another 5-7 days.

The well is located approximately six kilometres south of the H4 Well Head Platform, which is in the southern part of the TGT field in Block 16-1 located in the Cuu Long Basin off the southern coast of Vietnam.

Ed Story, President and Chief Executive of SOCO, said: “We are very excited by the results thus far on the H5 Block. Already the most prolific well tested in the field, the Oligocene test, one of the best results from the Oligocene in Vietnam, is an added bonus. This supports the push for bringing the H5 area on stream as soon as possible.”

[mappress]
September 25, 2013