GREY:ENGFF - Post by User
Comment by
Columbus1494on Jan 22, 2011 10:09am
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Post# 18011663
RE: ENG Congo activities
RE: ENG Congo activitiesSOCO recently received the presidential decree for block 5 in the prospective eastern part ofCongo.They are in
discussions regarding other blocks as well.The decree was issued june the 28th,shortly before they started
drilling in Nganzi.Who knows maybe ENG will be rewarded in a similar way.
Monday 28 June 2010
SOCO International plc
('SOCO' or the 'Company')
The Company has been informed by its wholly owned subsidiary SOCO Exploration Production DRC SPRL that the Production Sharing Agreement for Block 5 in the Albertine Graben area of the Democratic Republic of Congo (“DRC”) has received the Presidential Decree, the final step in the concession award of the block.?
The Block, operated by SOCO Exploration Production DRC SPRL, is located at the southern end of the Albertine Rift system and includes part of Lake Edward. During the initial five year exploration period the Block 5 partnership have committed to acquire at least 300 km of seismic data and drill two exploration wells.
The Block 5 partnership consists of SOCO Exploration Production DRC SPRL holding 38.25%, Dominion Petroleum Congo SPRL with 46.75% and the state oil company of the Democratic Republic of Congo Congolaise des Hydrocarbures (“COHYDRO”) with 15%.