31 August 2012
Sound Oil plc
("Sound Oil" or "the Company")
Operations Update - Jatayu-1 Well, Indonesia
Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia announces the following update on its operations in Indonesia.
Citarum PSC (Sound 20%):
Pan Orient Energy, the operator of the Citarum PSC has today provided the following update on operations at the Jatayu-1 exploration well in Java.
With a three week time frame required to mobilize the slim hole drilling equipment to the Jatayu-1 well site, the operation detailed above is expected to result in significant cost savings by not requiring the current drilling rig to go on standby. It is estimated that without significant further drilling problems, the Jatayu-1 will be completed to target depth for approximately $1.5 million USD."
For further information please contact:
Gerry Orbell, Chairman & Chief Executive
Michael Cope, Chief Operating Officer
Tel: 44 (0)1372 365745
Smith & Williamson - Nominated Adviser
Tel: 44 (0)20 7131 4000
Westhouse Securities - Broker
Tel: 44 (0)20 7601 6100
Buchanan - Financial PR
Tel: 44 (0)20 7466 5000
1. 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.