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
1.75    0.00 (0.00%)
Bid:
1.70
Ask:
1.80
Spread: 0.10 (5.882%)
Market Cap: £4.11m
SOU Live PriceLast checked at - London Stock Exchange

Intraday Sound Energy Share Chart

Rapagnano Flow Rates

7 Jan 2013 07:00

RNS Number : 9115U
Sound Oil PLC
07 January 2013
 



7 January 2013

 

Sound Oil plc

("Sound Oil" or "the Company")

 

Rapagnano Flow Rates

 

Sound Oil, the Italian focused upstream oil and gas company is pleased to confirm a successful initial operation at the Rapagnano field in Italy, with flow rates and pressure in line with expectation.

 

Following site clearance, the Rapagnano-1 well (in the Marche Region) was re-entered and operations to isolate the upper perforated interval (1418-1430 m, A2 reservoir) and re-open the lower perforated interval (1652.5-1658.5 m, Sabbie reservoir) were successfully completed using coiled tubing.

 

Whilst testing will continue for the next 24 hours, a stabilized rate of 14,000 Scmd (0.5 MMscfd) with a flowing well head pressure of 19.3 Bar (280 psi) has already been confirmed. The gas is also confirmed as dry, with no trace of water from the reservoir.

 

The pressures and flow rates are fully consistent with the gas sales agreement and with the Company's estimates to produce 1.3 Bscf over a 13 year field life.

 

The well test will now be completed after which the equipment will be demobilized to allow continuation of the facilities re-vamping and construction of a short export pipeline to the nearby distribution grid. First commercial production is therefore expected to commence by the end of the month.

 

 

James Parsons, Sound Oil's Chief Executive Officer, commented:

"The Company continues on track to achieve the strategic milestone of first commercial gas, having successfully re-entered the well and established a stable flow rate. This initial cash inflow will make a substantial contribution to overhead costs and permanently establishes the Company as a gas producer.

This is the first step in building a track record of operational success. The Company will now focus on finalising the well test and preparing for the forthcoming Nervesa appraisal well."

 

 

 

For further information please contact:

 

Sound Oil

James Parsons, Chief Executive Officer

 

j.parsons@soundoil.co.uk

 

Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

 

Tel: +44 (0)20 7131 4000

Westhouse Securities - Broker

Antonio Bossi

Jonathan Haines

 

Tel: +44 (0)20 7601 6100

Buchanan - Financial PR

Tim Thompson

Helen Chan

Tom Hufton

 

Tel: +44 (0)20 7466 5000

 

 

Notes:

 

1. The information contained in this announcement has been reviewed by Sound Oil's Chief Operating Officer, Dr M. J. Cope BSc PhD CGeol FGS, a qualified petroleum geologist.

 

2. Units of flow are expressed as follows:  MMscfd means millions of standard cubic feet of gas per day; Scmd means standard cubic meters of gas per day; Bscf means billions of standard cubic feet of gas. Units of pressure are expressed in pounds per square inch (psi; 14.5 psi = 1 Bar).

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSSDESMFDSEIF
Date   Source Headline
29th May 20262:32 pmRNSNotice of GM
28th May 20269:32 amRNSPublication of Annual Report and Notice of AGM
28th May 20267:00 amRNSNotice of Meeting for Senior Secured Noteholders
26th May 202610:17 amRNS-RNotification of Investor Presentation
26th May 20267:16 amRNSSale of SEML & Relinquishment of Exploration Right
22nd May 20267:00 amRNSFinal Results
20th Apr 202611:03 amRNSHolding(s) in Company
26th Mar 20263:48 pmRNSHolding(s) in Company
20th Mar 20267:00 amRNSOperational Update, Term Loan & Equity Placing
9th Mar 20267:00 amRNSHolding(s) in Company
3rd Mar 20267:00 amRNSConversion of CLN Interest, Issue of Shares & TVR
26th Feb 202612:13 pmRNSResult of GM
10th Feb 20267:00 amRNSNotice of GM
26th Jan 20267:00 amRNSMorocco Operational Update
8th Dec 20257:00 amRNSFirst Commissioning Gas at the Tendrara
15th Oct 20257:00 amRNSBoard Changes and Appointment of CEO
18th Sep 20257:05 amRNS-RNotification of Investor Presentation
18th Sep 20257:00 amRNSHalf-year Report
14th Jul 20257:00 amRNS-RNotification of ShareSoc Investor Presentation
17th Jun 20253:39 pmRNSAGM Results
17th Jun 20257:00 amRNSJV for Solar
17th Jun 20257:00 amRNSJV for Hydrogen
27th May 20257:00 amRNSDirector/PDMR Shareholding
15th May 20255:48 pmRNSPublication of Annual Report and Notice of AGM
11th Apr 20257:00 amRNSPDMR Dealings
10th Apr 20257:05 amRNSNotification of Investor Presentation
10th Apr 20257:00 amRNSFinal Results
24th Mar 20257:00 amRNSLaunch of New Website
17th Mar 20257:00 amRNSOperations Update
24th Feb 20257:00 amRNSDirectorate Change
17th Feb 20257:00 amRNSChange of Adviser
16th Dec 20243:33 pmRNSBlock Admission Update
11th Dec 20247:10 amRNSNotification of Investor Presentation
11th Dec 20247:00 amRNSMoroccan Assets: Completion of the sale of SEME
28th Oct 20247:00 amRNSExploration Collaboration Agreement
21st Oct 20247:00 amRNSUpdate re Divestment
18th Oct 20247:00 amRNSPartial Conversion of Convertible Loan Note & TVR
27th Sep 20247:00 amRNSStatement re Moroccan Press Speculation
24th Sep 20247:00 amRNSChange of Date of Investor Presentation
19th Sep 20247:05 amRNSNotice of Investor Presentation
19th Sep 20247:00 amRNSHalf-year Report
2nd Sep 20247:00 amRNSCompletion of Work Over Operations
23rd Aug 20247:00 amRNSBridge Facility Agreement
16th Aug 20247:00 amRNSBlock Admission Update
15th Aug 20247:00 amRNSOperations Update
19th Jul 202410:36 amRNSExploration Permit Update
16th Jul 20247:00 amRNSUpdate re Conditions to Divestment
11th Jul 202410:38 amRNSHolding(s) in Company
1st Jul 20242:07 pmRNSPartial Conversion of Convertible Loan Note & TVR
28th Jun 20242:27 pmRNSResult of AGM

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.