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Date update: Fri, 22 Jan 2010 23:04:27 GMT
SOCO to promote operations in Vietnam
(VninfoGate) -
The international oil and gas exploration and production company, SOCO, has sold a record number of shares to mobilise capital for its exploration in Vietnam, Thailand and West Africa.
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Soco’s Chief Financial Officer Roger Cagle says the company intends to exploit about 700 million barrels of oil in newly-explored wells, five of which are in Africa. He adds that the company will continue its exploration in Vietnam.
Although Soco’s 7.2 million shares have yielded about ₤102 million, the figure is said not to meet the company’s demand for capital.
The London-based company is traded on the London Stock Exchange.
(Source: VOVNews)
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