RNS Number : 9080R
Sound Oil PLC
10 November 2011

10 November 2011


Sound Oil plc

("Sound Oil" or "the Company")


Drawdown on Equity Line


Sound Oil announces that it has drawn down on its Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd ("Yorkville") in the amount of £350,000. This draw down has been undertaken at a price of 2.6p per share and will result in the issue of 13,461,538 ordinary shares of 0.1p each in the Company ("the New Ordinary Shares") to Yorkville.


The proceeds of the draw down will be applied to the funding of Sound Oil's combined work programme and ongoing costs of the Company and its subsidiaries.


Application will be made for the New Ordinary Shares to be admitted to AIM and dealings are expected to commence on 17 November 2011. The New Ordinary Shares will rank pari passu with the Company's existing issued ordinary shares.


For further information please contact:


Sound Oil

Gerry Orbell, Chairman and Chief Executive

James Parsons, Chief Financial Officer


Tel: 44 (0)1372 365745


Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones


Tel: 44 (0)20 7131 4000

Investec - Broker

Charles Batten

David Flin

Adam Strachan


Tel: 44 (0)20 7597 4000

Buchanan - Financial PR

Tim Thompson

Ben Romney

Helen Chan


Tel: 44 (0)20 7466 5000



This information is provided by RNS
The company news service from the London Stock Exchange