3 January 2012
Sound Oil plc
("Sound Oil" or "the Company")
Operations Update - Citarum PSC, Java, Indonesia
Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, is pleased to announce that the Cataka-1 exploration well commenced drilling at 2300 Indonesian local time (1600 GMT) on 31 December 2011. It is currently drilling ahead in 17 1/2" section towards the Parigi Formation limestone reservoir objective and is scheduled to take 21 days to drill. The well will be drilled as a deviated hole to a total measured depth of 6,995 ft (2,132 m) to target P50 gross prospective resources of 470 Bscf.
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
The information contained in this announcement has been reviewed by Sound Oil's Chief Operating Officer, Dr M. J. Cope BSc PhD CGeol FGS, a qualified petroleum geologist. The basis of the prospective resources estimate referred to above is consistent with SPE (The Society of Petroleum Engineers) guidelines and was provided by Fugro Robertson Limited in a Competent Person's Report prepared for Sound Oil in October 2011; "Bscf" means billions of standard cubic feet of gas.