Viet Nam-focused British oil explorer Soco International Plc posted a 43 percent rise in 2006 profit.
“There is no question that 2006 was a banner year for the company. However, the 2007 drilling programme in Viet Nam 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 percent at US$76.5 million.
Soco also confirmed that it planned to drill up to eight exploration wells in Viet Nam this year.
“There is no question that 2006 was a banner year for the company. However, the 2007 drilling programme in Viet Nam 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 percent at US$76.5 million.
Soco also confirmed that it planned to drill up to eight exploration wells in Viet Nam this year.
