RNS Number : 3393Y
Sound Oil PLC
08 September 2015

8 September 2015


Sound Oil plc

("Sound Oil" or the "Company")


Italy: Portfolio Update


Sound Oil, the Mediterranean focused upstream gas company is pleased to update investors on its progress towards first commercial production at the onshore Nervesa gas field in Italy and the Badile Permit.


Nervesa Gas Discovery


Consistent with previous guidance, commercial production from the onshore Nervesa gas discovery is expected by the end of 2015.  Highlights of recent progress include:


-     Production Concession from the Italian Ministry of Economic Development awarded (as announced on 16 July 2015)

-     Signature of gas sales agreement with Shell Energy Italia (as announced on 6 August 2015)

-     Production skid construction on track for installation end October 2015

-     All other equipment and materials required ahead of production are now on site


A webcam has also now been installed on site and is expected to be live during September


Badile Prospect


Following receipt of the approval of the Environmental Impact Assessment ("EIA") for the Badile exploration well on 17 March 2015, the Company has been advised by UNMIG (the Italian Ministry of Economic Development) that the Badile permit will be extended until the earlier of 31 December 2016 or 12 months from the date of the award of the final authorization to drill the forthcoming well (the Badile permit previously had an expiry date of 23 March 2016). 


The Company expects to receive final authorization to drill the well during the course of 2015 and continues with its efforts to identify and negotiate a farm in partner.



For further information please contact:


Sound Oil

James Parsons, Chief Executive Officer




Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon

Alexandra Roper


Tel: 44 (0)20 7016 9573

Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

Ben Jeynes


Tel: 44 (0)20 7131 4000

Cantor Fitzgerald Europe - Broker

Sarah Wharry

David Porter


Tel: 44 (0)20 7894 8896



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