Vanco Energy Company

March 28, 2005 13:24 ET

Vanco Announces Drilling of Block CI-112, Cote d'Ivoire


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: VANCO ENERGY COMPANY

MARCH 28, 2005 - 13:24 ET

Vanco Announces Drilling of Block CI-112, Cote d'Ivoire

HOUSTON--(CCNMatthews - Mar 28, 2005) -

Vanco Cote d'Ivoire announces the drilling of the San Pedro #1 well for
the CI-112 exploration permit offshore Cote d'Ivoire. This permit is
held under a Production Sharing Contract signed with the Government of
Cote d'Ivoire on 20 April 1999. The CI-112 partnership comprises Vanco
Cote d'Ivoire Ltd (Operator, 27%); Sinopec Overseas Oil & Gas Ltd (27%);
ONGC Videsh Ltd (21.15%); Oil India Ltd (10.35%); and Petroci Holding
(14.5%). Vanco is proud to lead the first ever international deepwater
joint exploration effort between these leading state-owned oil
companies.

On March 25, 2005, Vanco commenced operations on the San Pedro #1
exploratory well located 35 kilometers off the coast of western Cote
d'Ivoire in 1,735 meters water depth. The well is being drilled with
Transocean's state-of-the-art Deepwater Discovery drillship. The main
objective is the Cretaceous Albian sandstone reservoir. The planned
total depth is 3,125 meters.

Vanco Energy Company is a Houston-based independent oil and gas company
engaged in international exploration and operations. Vanco is a leading
deepwater explorer in offshore Africa with 20 million acres under
license in Morocco, Cote d'Ivoire, Ghana, Equatorial Guinea, Gabon, and
Madagascar.

MULTIMEDIA AVAILABLE:

http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4851224



-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Vanco Energy Company, Houston
    Tor Van Dyke, 713-877-8544
    www.vancoenergy.com