SOCO International plc ("SOCO" or “the Group”)

At the SOCO International plc AGM held today Patrick Maugein, Non-Executive Chairman, made the following comments:

"SOCO produced solid operating results in 2004, laying the foundations for a successful year ahead on all fronts. 2005 has commenced well with the sale of our Mongolia assets, announced in April 2005, due to complete shortly.

Our multi-well drilling programme is underway and has made an exceptional start which will have a material effect on the future of SOCO. The recent results of the CNV-3X well in Vietnam were very encouraging and will, we believe, lead to an early Declaration of Commerciality. We are equally excited about the potential of the TGT-1X exploration well in Vietnam, which is currently drilling. Within Yemen the Consortium’s programme for the year on Block 10 to increase reserves, expand export capacity and maximise production continues to return excellent results with the KHA-405, the most recently drilled well, currently testing.

The outlook for SOCO is very strong. We have stream-lined our portfolio, realising early value from Mongolia and are actively looking to build our presence in West and North Africa. We believe the potential upside from our multi-well drilling programme is considerable."

24 June 2005


SOCO International plc
Roger Cagle
Deputy Chief Executive and Chief Financial Officer
Tel: 020 7747 2000

Pelham Public Relations
James Henderson Tel: 020 7743 6673
Alisdair Haythornthwaite Tel: 020 7743 6676


SOCO International plc is an international oil and gas exploration and production company headquartered in London and listed on the London Stock Exchange. Although the Company has designated core areas in the Far East / Southeast Asia and Middle East / North Africa regions, it employs a strategy for building shareholder value through a portfolio of oil and gas assets by focusing on Recognising Opportunity, Capturing Potential and Realising Value.

SOCO holds its interests in Vietnam, all in the Cuu Long Basin offshore, through its 80% owned subsidiary SOCO Vietnam Limited ("SOCO Vietnam"). SOCO Vietnam holds a 25% working interest in Block 9-2, which is operated by the Hoan Vu Joint Operating Company and a 28.5% working interest in Block 16-1, which is operated by the Hoang Long Joint Operating Company.

SOCO’s Yemen interests are held through its majority owned (58.75%) shareholding in Comeco Petroleum, Inc. ("Comeco"). Comeco holds a 28.57% working interest in Block 10, East Shabwa Development Area.

Pharos Energy plc is aware of attempts to impersonate the company under its previous name, SOCO International plc, on social media. Pharos does not have a Facebook page.