Last checked at 28 Jun 2011 12:01
For immediate release | 28 June 2011 |
SOUND OIL PLC
("Sound Oil" or "the Company"")
ANNOUNCEMENT FOLLOWING THE AGM
The Chairman welcomed shareholders to the AGM and put the various resolutions to the meeting, which were duly passed.
Following the formal part of the meeting the Chairman gave an update of the Company's present activities:
Marciano gas field: the general geographical and technical setting was described together with the procedures of the current testing programme. The testing results are the subject of a separate announcement today.
Montemarciano Farmin: the well planning is in progress and the civil works are to be completed by August 24th. An interim map has been made and this confirms the viability of the Casa Tiberi prospect which should be drilled during 4th quarter 2011.
The Nervesa and Montefano Gas Discoveries have been confirmed by preliminary re-mapping during the seismic acquisition process. An application to drill Nervesa will be submitted to the authorities during July with Montefano to follow.
Badile: the 3D seismic data has been acquired and will be interpreted during July. In the meantime an application to drill will be submitted to the Ministry during July.
The authorities have assured the Company that the applications at Rapagnano and Costa del Sole are in hand and will be awarded shortly.
In Indonesia the Operator signed the Gas Sales and Supply Agreement for the Kerendan Gas Field today with the local electricity utility. A statement about this has been released.
For further information please contact:
Sound Oil Gerald Orbell, Chairman
| Tel: +44 (0)7903 861 145 |
Buchanan Communications Tim Thompson Ben Romney
| Tel: +44 (0)207 466 5000
|
finnCap Sarah Wharry Henrik Persson | Tel: +44 (0)207 600 1658 |