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
1.70    -0.10 (-5.56%)
Bid:
1.60
Ask:
1.80
Spread: 0.20 (12.50%)
Market Cap: £3.88m
SOU Live PriceLast checked at - London Stock Exchange

Intraday Sound Energy Share Chart

Operations Update

22 Aug 2011 07:00

RNS Number : 7360M
Sound Oil PLC
22 August 2011
 



 

22 August 2011

Sound Oil plc

("Sound Oil" or "the Company")

 

Operations update - Montemarciano

 

Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, announces that its subsidiary Apennine Energy srl commenced civil engineering works on 18 August at the drilling site for the farm-in exploration well, Casa Tiberi-1, at the Montemarciano permit (75% Sound Oil interest). Drilling operations are expected to commence in the next 90 days and the budgeted cost of the well to the Company is US$1.5 million.

 

 

Commenting on the above, Gerry Orbell, Sound Oil's Chairman and Chief Executive said:

 

"Casa Tiberi-1 is the first well that we shall be drilling as operator. The competent person estimated the risk of finding hydrocarbons to be 35% which is relatively low for an exploration well. If successful, the most likely worth to Sound is approximately US$12 million based on the present evidence but I am hoping for the upside which could be worth US$37 million."

 

 

 

Notes:

1. The Casa Tiberi-1 well site is located in the Falconara Marittima Comune, in the Province of Ancona in the Marche Region of Italy.

 

2. As previously announced, a competent persons report produced by Fugro Robertson Limited estimated a 35% chance of success and base case (P50) prospective recoverable resources of 5.7 Bscf at the Casa Tiberi prospect with an estimated value to Sound Oil of US$11.6 million (NPV10 success case basis). For the upside (P10) case their estimate is 14.9 Bscf (NPV10 US$37.1 million) and for the low side (P90) case, 2.2 Bscf (NPV10 US$2.1 million). The competent persons report referred to above may be viewed on Sound Oil's website www.soundoil.co.uk.

 

 

For further information please contact:

 

Sound Oil

Gerry Orbell, Chairman and Chief Executive

Michael Cope, Chief Operating Officer

 

Tel: +44 (0)1372 365745

 

Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

 

Tel: +44 (0)20 7131 4000

Investec - Broker

Charles Batten

David Flin

Adam Strachan

 

Tel: +44 (0)20 7597 4000

Buchanan Communications

Tim Thompson

Ben Romney

Helen Chan

 

Tel: +44 (0)20 7466 5000

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCPLMFTMBMBBAB
Date   Source Headline
14th Feb 20229:16 amRNSForm 8.5 (EPT/NON-RI)
11th Feb 20229:22 amRNSForm 8.5 (EPT/NON-RI)
31st Jan 20225:41 pmRNSForm 8.3 - Sound Energy Plc
31st Jan 20225:24 pmRNSForm 8.3 - Sound Energy Plc
31st Jan 20229:46 amRNSForm 8.3 - Sound Energy Plc
27th Jan 20225:33 pmRNSForm 8 (OPD) - Angus Energy Plc
25th Jan 202210:08 amRNSRule 2.9 Announcement
25th Jan 20229:00 amRNSForm 8.5 (EPT/NON-RI)
18th Jan 20227:00 amRNSPossible Offer for Angus Energy Plc
5th Jan 202210:00 amRNSNew Corporate Website
30th Dec 20212:00 pmRNSPrice Monitoring Extension
29th Dec 20217:00 amRNSPhase 1 - Loan Note Financing and LNG SPA Update
20th Dec 20212:05 pmRNSSecond Price Monitoring Extn
20th Dec 20212:00 pmRNSPrice Monitoring Extension
17th Dec 20212:20 pmRNSPhase 1 Development LNG SPA Update
17th Dec 202111:00 amRNSPrice Monitoring Extension
15th Dec 20212:06 pmRNSSecond Price Monitoring Extn
15th Dec 20212:00 pmRNSPrice Monitoring Extension
15th Dec 202111:05 amRNSSecond Price Monitoring Extn
15th Dec 202111:00 amRNSPrice Monitoring Extension
2nd Dec 20217:00 amRNSNon-Executive Director Appointment
1st Dec 202111:06 amRNSSecond Price Monitoring Extn
1st Dec 202111:00 amRNSPrice Monitoring Extension
1st Dec 20217:00 amRNSPhase 1 LNG Sale & Purchase Agreement Update
30th Nov 20217:00 amRNSGas Sales Agreement: Phase 2 Tendara Development
17th Nov 20217:00 amRNSProposed Non-Executive Director Appointment
9th Nov 202112:44 pmRNSDirectorate Change
1st Nov 20211:42 pmRNSPhase 1 LNG Sale & Purchase Agreement Extension
30th Sep 20214:56 pmRNSTotal Voting Rights
30th Sep 20214:00 pmRNSUpdate re Moroccan Tax Matter
22nd Sep 202112:53 pmRNSIssue of Equity and Total Voting Rights
16th Sep 20217:00 amRNSHalf-year Report
1st Sep 20213:53 pmRNSTotal Voting Rights
1st Sep 20217:00 amRNSAnoual Permits Update
31st Aug 20217:00 amRNSCompletion of Acquisition
6th Aug 20214:40 pmRNSSecond Price Monitoring Extn
6th Aug 20214:35 pmRNSPrice Monitoring Extension
6th Aug 20212:06 pmRNSSecond Price Monitoring Extn
6th Aug 20212:00 pmRNSPrice Monitoring Extension
6th Aug 20219:25 amRNSNotification From Moroccan Tax Authorities
4th Aug 20214:41 pmRNSSecond Price Monitoring Extn
4th Aug 20214:35 pmRNSPrice Monitoring Extension
4th Aug 202112:42 pmRNSHolding(s) in Company
4th Aug 202110:33 amRNSHolding(s) in Company
30th Jul 20219:06 amRNSSecond Price Monitoring Extn
30th Jul 20219:00 amRNSPrice Monitoring Extension
29th Jul 202111:05 amRNSSecond Price Monitoring Extn
29th Jul 202111:00 amRNSPrice Monitoring Extension
29th Jul 20219:05 amRNSSecond Price Monitoring Extn
29th Jul 20219:00 amRNSPrice Monitoring Extension

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.