[lbo-talk] British oil explorer makes profit in Vietnam

uvj at vsnl.com uvj at vsnl.com
Fri Mar 23 12:50:34 PDT 2007


Nhan Dan http://www.nhandan.com.vn/english/

Last updated: 17:33 - March 17, 2007

British oil explorer makes profit in Vietnam http://www.nhandan.com.vn/english/business/170307/business_british.htm

Vietnam-focused British oil explorer Soco International Plc posted a 43% rise in 2006 profit.

"There is no question that 2006 was a banner year for the company. However, the 2007 drilling programme in Vietnam alone will expose the company to unrisked recoverable resource potential of 2.5 billion barrels of crude equivalent," Chief Executive Ed Story was quoted by The Scotsman newspaper as saying in a statement.

Soco met forecasts with a pretax profit of US $48.2 million in 2006 on revenue up 34% at US $76.5 million.

Soco also confirmed that it planned to drill up to eight exploration wells in Vietnam this year. (VNA)

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