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:
Gerry Orbell, Chairman and Chief Executive
Michael Cope, Chief Operating Officer
Tel: 44 (0)1372 365745
Smith & Williamson - Nominated Adviser
Tel: 44 (0)20 7131 4000
Investec - Broker
Tel: 44 (0)20 7597 4000
Tel: 44 (0)20 7466 5000