Last checked at 20 Oct 2009 07:30
20 October 2009
Sound Oil plc
("Sound Oil" or the "Company")
Possible acquisition
Sound Oil, the upstream oil and gas company with assets in Indonesia, notes the recent press speculation and continued movement in its share price and confirms that it is in discussions about the possible acquisition of a private company, which is majority-owned by a trust connected with Mr. Frank Timis, with oil assets offshore West Africa. The transaction under discussion is expected to represent a reverse takeover under the AIM Rules and accordingly the Company has requested that trading in its shares be suspended. This suspension will be lifted on publication of an admission document relating to this transaction or at such time as discussions are terminated. Any agreement regarding the reverse takeover will be conditional on the approval of the Company's shareholders in general meeting.
Further information on the Company can be found at www.soundoil.co.uk.
For further information please contact:
| Sound Oil | 07903 861145 |
| Gerry Orbell, Chairman | |
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| Smith & Williamson Corporate Finance - Nomad | 020 7131 4000 |
| Azhic Basirov | |
| David Jones | |
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| Evolution Securities - Joint Broker | 020 7071 4300 |
| Tim Redfern | |
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| Religare Hichens, Harrison – Joint Broker | 020 7382 7776 |
| Daniel Briggs | |
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| Buchanan Communications | 020 7466 5000 |
| Tim Thompson | |