17 June 2011
SOUND OIL PLC
("Sound Oil" or "the Company"")
Operations Update: Marciano-1ST Completion
Sound Oil is pleased to announce that the perforation operation on Marciano-1ST was completed successfully and to schedule. The rig is being demobilised and is expected to be off site within the next two days.
The clean-up and flowing of fluids in the formation is the next part of the operation and was scheduled to follow on immediately, without the need for a rig. This operation has, however, been temporarily suspended because a contractor's equipment that is required for the lift and flow of the well, failed on site. Replacement equipment has been identified and will be available in approximately one week when the operation is expected to re-commence.
Commenting on the above Gerry Orbell, Chairman said: This is one of those frustrations that can crop up from time to time in any well operation when a lot of interdependent equipment is required. The contractor is making every effort to replace the equipment as quickly as possible but in the meantime we are held up for a short time.
For further information please contact:
Gerald Orbell, Chairman
Tel: 44 (0)7903 861 145
Tel: 44 (0)207 466 5000
Tel: 44 (0)207 600 1658