NO TA ON THIS THREAD PLEASE
The Democratic Republic of Congo (Congo-Kinshasa) is a country where SOCO has an increasing interest.
At present, the only fully-ratified block is Nganzi, where SOCO's subsidiary holds an 85% stake. As I indicated in the recent thread here http://www.stockopedia.co.uk/forum/view/28022/interim-management-statement there appear to be several large prospects on the block and they are likely to be drilled in Q2 2010 - and look sufficiently interesting that they may not be farmed-down first!
There are at least two other blocks of interest to SOCO in DRC, with Block 5 (including part of Lake Edward) the furthest advanced, having a signed PSC and awaiting only the Presidential Decree. SOCO has a 38.25% stake there and will drill two explo wells in the first five years after the decree. Partner Dominion speaks very highly of the potential of Block 5, especially under Lake Edward which may well turn out to be an analogue of Lake Albert to the north, which has provided company-making discoveries for Tullow and Heritage.
This thread is intended to discuss all activities of SOCO within the Democratic Republic of Congo.