Soco International PLC SALE OF ANGOLAN INTERESTS (4929Z)
03 September 2018 - 4:00PM
UK Regulatory
TIDMSIA
RNS Number : 4929Z
Soco International PLC
03 September 2018
SOCO International plc
("SOCO" or the "Company" or, together with its subsidiaries, the
"Group")
SALE OF ANGOLAN INTERESTS
As announced on 2 July 2018 SOCO has entered into a sale and
purchase agreement (SPA) for the sale of the Group's entire 80%
shareholding in SOCO Cabinda Limited, the company holding a 22
percent, non-operating, working interest in the production sharing
contract for the Cabinda North Block, Angola.
The long stop date for satisfaction or, where applicable, waiver
of the SPA conditions was 31 August 2018. The parties to the SPA
have agreed an extension of this long stop date to 30 September
2018 to allow additional time for receipt of the customary
approvals required for completion. A further update will be
provided to the market in due course.
ENQUIRIES:
SOCO International plc
Tel: 020 7747 2000
Ed Story, President and Chief Executive Officer
Jann Brown, Managing Director and Chief Financial Officer
Mike Watts, Managing Director
Sharan Dhami, Group Investor Relations Manager
Camarco Tel: 020 3757 4980
Billy Clegg
Georgia Edmonds
Owen Roberts
NOTES TO EDITORS
SOCO is an international oil and gas exploration and production
company, headquartered in London and listed on the London Stock
Exchange. The Company has field development and production
interests in Vietnam.
SOCO holds a 30.5% working interest in the Te Giac Trang Field
of Block 16-1, which is operated by the Hoang Long Joint Operating
Company. Block 16-1 is located in the shallow water Cuu Long Basin,
offshore southern Vietnam.
SOCO holds a 25% working interest in the Ca Ngu Vang field of
Block 9-2, which is operated by the Hoan Vu Joint Operating
Company. Block 9-2 is located in the shallow water Cuu Long Basin,
offshore southern Vietnam.
SOCO holds a 70% interest in and is designated operator of
Blocks 125 & 126, located in the moderate to deep water Phu
Khanh Basin, offshore central Vietnam.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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