Something to think about ?12 Dec 2014 11:33
In summary, 2014 and 2015 should be the busiest and most exciting time in the history of Sound Oil to date. We can expect to be well under way with development work on both the Nervesa wells with first revenues following shortly after. This will be a landmark in the Company's history as for the first time we will be able to use free cash flow to grow the business. Success at the Laura discovery and at the game-changing Badile exploration well should also propel Sound Oil, under the leadership of our Chief Executive Officer James Parsons, towards our continued aim of becoming a fully funded mid-cap company. I am enthused by the variety and quality of prospects in our portfolio and look forward to unlocking their value with the highly skilled and professional team we have built. I would like to take this opportunity to thank our shareholders for their support over the past year and to wish you well.
· Italian cost base to be covered by production from Rapagnano and Casa Tiberi
· Santa Maria Goretti discovery confirmed NPV of €52.4 million (82% increase)
· Nervesa second well, targeting the Southern limb of the discovery, approaching