SOCO Issues Statement Regarding Takeover Speculation

Friday, October 10, 2008

In response to press speculation, SOCO confirms that at various times the Company is involved in discussions with various entities regarding potential corporate transactions. The board of SOCO can confirm that it has received a very preliminary approach regarding the sale of a majority of the Company's asset portfolio.

There can be no certainty that any transaction will occur or as to the terms of any such transaction.

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