Soco International found favour today after the oil company announced the successful production test of the Jathma-1 exploration well in Yemen.

Soco International found favour today after the oil company announced the successful production test of the Jathma-1 exploration well in Yemen.

The well was drilled to explore a new prospect on the Basement reservoir in the northern area of Block 10.

Soco owns a 16.785% net working interest in the East Shabwa Development Area (ESDA) in Yemen through its majority owned subsidiary Comeco Petroleum.

The JAT-01 well was spudded on 22 October and reached a total depth of 3,175 metres, testing over 1900 barrels of oil per day.

Further evaluation of the results will be carried out to establish the productivity of the well and the most appropriate development scenario, said Soco.

A second drilling rig spudded the Jathma-2 well on a separate location in the northern part of the block on the 8 December 2005 is currently drilling at 2,436 metres.

A third rig commenced drilling a production well on the Atuf Northwest Field on the 12 December.

Comeco, in which Soco holds a 58.75% interest, has a 28.57% interest in the ESDA in Block 10 in Yemen.

Source : www.lse.co.uk