RNS Number : 8943U
Sound Oil PLC
03 January 2012
 



 

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:

 

Sound Oil

Gerry Orbell, Chairman and Chief Executive

Michael Cope, Chief Operating Officer

 

Tel: 44 (0)1372 365745

Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

 

Tel: 44 (0)20 7131 4000

Investec - Broker

David Flin

 

Tel: 44 (0)20 7597 4000

Buchanan

Tim Thompson

Ben Romney

Helen Chan

 

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.


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