If you would like to learn more about future focusIR related events and roundtables, please submit your details here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSound Energy Regulatory News (SOU)

Share Price Information for Sound Energy (SOU)

Share Price is delayed by 15 minutes
Get Live Data
1.85    0.00 (0.00%)
Bid:
1.80
Ask:
1.90
Spread: 0.10 (5.556%)
Market Cap: £4.24m
SOU Live PriceLast checked at - London Stock Exchange

Intraday Sound Energy Share Chart

Indonesia Activity update

15 Nov 2010 07:00

RNS Number : 1400W
Sound Oil PLC
15 November 2010
 



For immediate release 15 November 2010

 

Sound Oil plc

Indonesia Activity update

 

Sound Oil is pleased to report that a recent change in the Bangkanai PSC and ownership has brought forward drilling of two exploration wells and implementation of the Kerendan gas field Plan of Development (POD).

 

Salamander Energy plc has announced that it has acquired the entire share capital of Elnusa Bangkanai Energy Limited (EBE) which now holds a 69% working interest and operatorship of the Bangkanai PSC. Sound Oil's 5% interest in the Bangkanai PSC, held through its wholly owned subsidiary Mitra Energia Bangkanai Limited, continues to be carried for all expenditure until first gas from the Kerendan field and for two exploration wells.

 

The new operator has announced plans for early drilling commencing in early 2011. Salamander also expects to progress the development of the Kerendan field leading to first production in 2014. Negotiations for gas sales to PLN, the Indonesian State power company, are at an advanced stage.

Gerry Orbell, Sound Oil's Chairman and Chief Executive comments:

"This is a very positive step for Sound which has a 5% carried interest in the Bangkanai PSC. Salamander are an experienced operator in Indonesia and they have stated that they will be drilling two exploration wells on behalf of the partners in our PSC in the first part of 2011. Additionally, they expect to bring on stream the Kerendan Gas Field in 2014 which will monetise our interests there.

Elsewhere in Indonesia, Sound will be participating in three wells in the Citarum PSC, Java (Sound 20%) in the first half of 2011. With involvement in 5 exploration wells before mid 2011, Sound is in for a very active New Year."

 

Enquiries:

 

Sound Oil plc Tel: 07903 861 145

Gerry Orbell, Chairman

 

finnCap Tel: 020 7600 1658

Sarah Wharry / Henrik Persson (corporate finance)

Tom Jenkins / Joanna Weaving (corporate broking)

 

Buchanan Communications

Tim Thompson/Ben Romney/Chris McMahon Tel: 020 7466 5000

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLGGGPAGUPUGMP
Date   Source Headline
19th Feb 202012:07 pmRNSSecond Price Monitoring Extn
19th Feb 202012:02 pmRNSPrice Monitoring Extension
17th Feb 20207:00 amRNSPartial Divestment Update & LNG Strategy
3rd Feb 20205:02 pmRNSDirector/PDMR Shareholding
3rd Feb 20204:40 pmRNSSecond Price Monitoring Extn
3rd Feb 20204:35 pmRNSPrice Monitoring Extension
27th Jan 20202:58 pmRNSIssue of Equity, Director Shareholding and TVR
23rd Jan 20203:58 pmRNSDirectorate Changes
20th Jan 20205:16 pmRNSDirectorate Change
13th Jan 20207:00 amRNSEastern Morocco Portfolio Update
8th Jan 202012:07 pmRNSSecond Price Monitoring Extn
8th Jan 202012:02 pmRNSPrice Monitoring Extension
2nd Jan 20207:00 amRNSUpdate re Tendrara Gas Sales Agreement MOU
20th Dec 20194:40 pmRNSSecond Price Monitoring Extn
20th Dec 20194:35 pmRNSPrice Monitoring Extension
18th Dec 201911:22 amRNSResult of Placing
18th Dec 20198:02 amRNSProposed Placing
22nd Nov 201912:07 pmRNSSecond Price Monitoring Extn
22nd Nov 201912:02 pmRNSPrice Monitoring Extension
19th Nov 20191:30 pmRNSEIA Approval : Sidi Moktar 2D seismic acquisition
13th Nov 20194:40 pmRNSSecond Price Monitoring Extn
13th Nov 20194:35 pmRNSPrice Monitoring Extension
13th Nov 201912:08 pmRNSSecond Price Monitoring Extn
13th Nov 201912:02 pmRNSPrice Monitoring Extension
12th Nov 20193:53 pmRNSSuccession Planning and Board Changes
7th Nov 20197:00 amRNSBoard Change
6th Nov 20197:00 amRNSAgreement
31st Oct 20194:40 pmRNSSecond Price Monitoring Extn
31st Oct 20194:35 pmRNSPrice Monitoring Extension
30th Oct 20197:00 amRNSTendrara Gas Sales Agreement: Signature of MOU
17th Oct 20194:40 pmRNSSecond Price Monitoring Extn
17th Oct 20194:35 pmRNSPrice Monitoring Extension
1st Oct 20194:52 pmRNSTVR and Block Admission Interim Review
19th Sep 20197:00 amRNSHalf-year Report
30th Aug 20194:09 pmRNSTotal Voting Rights
14th Aug 20197:00 amRNSBoard Change Update
31st Jul 20192:14 pmRNSTotal Voting Rights
16th Jul 20192:02 pmRNSIssue of Equity and Total Voting Rights
28th Jun 20191:54 pmRNSTotal Voting Rights
18th Jun 20197:00 amRNSPlacing, Cost Reduction Update and TVR
28th May 20194:27 pmRNSDirector/PDMR Shareholding
23rd May 20192:32 pmRNSDirector/PDMR Shareholding
23rd May 20197:00 amRNSBoard Changes
22nd May 20192:48 pmRNSResult of AGM
22nd May 20197:00 amRNSStrategic and Operational Update
21st May 20191:35 pmRNSTE-10 Well Test Result and Exploration Update
14th May 20197:00 amRNSBoard Change
8th May 20197:00 amRNSOperational Update: Eastern Morocco
1st May 20197:00 amRNSTendrara Gas Sales Agreement Update
29th Apr 20197:00 amRNSFurther Update re TE-10: Rigless Well Testing

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.