The company is
drilling in the so-called Oligocene clastics section and data gathered
“is insufficient at this point to determine the likelihood that this
interval would or would not be productive,” Soco said Thursday in a
statement distributed by the Regulatory News Service.
Drilling is expected to take about three weeks, it said.
Soco climbed as much as 51 pence, or 2.9 percent, to 1,785 pence, and traded at 1,706 pence in London.
Chief Executive Officer Ed Story said on March 26 that Te Giac Den well is a gas and condensate-prone structure.
The
well is a “potentially huge gas-condensate prospect, with recoverable
reserves of up to one billion barrels,” Seymour Pierce Ltd. said in a
note on March 26.
Saturday, April 12, 2008 10:34:25 Vietnam (GMT+07)
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