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
1.80    0.00 (0.00%)
Bid:
1.70
Ask:
1.90
Spread: 0.20 (11.765%)
Market Cap: £4.11m
SOU Live PriceLast checked at - London Stock Exchange

Intraday Sound Energy Share Chart

Operations Update

15 Nov 2011 12:03

RNS Number : 1296S
Sound Oil PLC
15 November 2011
 



15 November 2011

Sound Oil plc

("Sound Oil" or "the Company")

 

Operations update - Montemarciano Permit

 

Gas discovery at Casa Tiberi-1 exploration well Ancona, Italy

 

Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, announces that the Casa Tiberi-1 exploration well in Italy, which is operated by the Company's wholly-owned subsidiary Apennine Energy srl, has been successfully drilled to a total depth of 715 m measured depth. Logging of the well has established a gross hydrocarbon column of 14.9 m, comprising several high quality gas bearing reservoir sands. Sound Oil is suspending the well as a gas discovery pending future work in the coming months, to determine the extent and commerciality of the accumulation.

 

By drilling the well to 715 m MD, Sound Oil has completed its original farm-in obligations on the Montemarciano Permit and has earned its 75% working interest in the licence.

 

Subsequently its partner SARP, a small private Italian company which holds a 25% working interest in the licence, has withdrawn from the well and assigned its interest in the well to Sound Oil meaning the Company therefore now holds a 100% working interest in the gas discovery and a 75% interest in the surrounding permit.

 

 

Gerry Orbell, Chairman and CEO of Sound Oil, commented:

 

"We are pleased that the drilling of Casa Tiberi-1 has resulted in a gas discovery from our first operated exploration well in Italy. We will evaluate the results going forward and consider how best to bring this accumulation on-stream which could include the use of the gas processing and electricity generating equipment that the Company owns at the Marciano location."

 

 

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

Tim Thompson

Ben Romney

Helen Chan

 

Tel: +44 (0)20 7466 5000

 

 

The information contained in this announcement has been reviewed by Dr M. J. Cope BSc PhD CGeol FGS, a qualified petroleum geologist.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBABTTMBMBBTB
Date   Source Headline
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
25th Apr 20193:42 pmRNSAnnual Report and Notice of AGM
16th Apr 20194:27 pmRNSAnoual: Schlumberger Direct Licence Position
2nd Apr 20194:03 pmRNSTE10: Rigless Well Testing Timing Update
1st Apr 201910:07 amRNSTVR and Block Admission Interim Review

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.