Last checked at 15 Nov 2010 08:00
For immediate release 15 November 2010
Sound Oil plc
Response to Press Comment
Sound Oil plc notes the speculation in the FT over the weekend and can confirm that the company is in discussions to acquire Consul Oil and Gas, which owns a portfolio of Italian appraisal, development and exploration assets, and simultaneously undertake a placing to raise working capital for the enlarged group. The transaction is not deemed a reverse takeover under the AIM Rules for Companies. Discussions are ongoing and a further announcement will be made in due course.
Enquiries:
Sound Oil plc Tel: 07903 861 145
Gerry Orbell, Chairman
finnCap Tel: 020 7600 1658
Sarah Wharry / Henrik Persson (corporate finance)
Tom Jenkins / Joanna Weaving (corporate broking)
Buchanan Communications
Tim Thompson Tel: 020 7466 5000