Last checked at 25 Oct 2011 07:00
25 October 2011
Sound Oil plc
("Sound Oil" or "the Company")
Start of Casa Tiberi-1 Exploration Well, Italy
Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, is pleased to announce that Hydro Drilling International have mobilised the MR4000 drilling rig to the Casa Tiberi-1 wellsite, located at Falconara, Ancona, central Italy. Rigging up is expected to take five days and drilling operations are expected to start within one week.
Casa Tiberi-1 will be drilled to a total depth of 700 m to test the hydrocarbon potential of Pliocene sands. The well is expected to take 10 days to complete.
Commenting on this news Gerry Orbell, Sound Oil's Chairman and Chief Executive Officer, said:
"Casa Tiberi-1 will be the Company's first operated exploration well and the start of a very active operations programme over the next year. This programme is expected to involve three operations in Italy, five exploration wells in Indonesia and the development of the Kerendan gas field."
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
|