Operations update

RNS Number : 3775Y
Sound Oil PLC
02 September 2009
 



2 September 2009


Sound Oil plc ("the Company")

Operations Update - Citarum PSC, Indonesia


The Company is pleased to announce that considerable progress has been made towards completion of the outstanding work commitments on the Citarum Production Sharing Contract (PSC), onshore JavaIndonesia.


The operator of the PSC, Pan Orient Energy, has indicated that the acquisition of the initial 750 km 2D seismic program continues with approximately 1/3 of the data acquired to date and completion expected near the end of 2009 to early 2010. Data quality has been superior to that acquired in the adjacent acreage by previous operators and a number of leads at depths shallower than 1,700m have been identified on the data that have been processed to date.


These preliminary results are encouraging for the selection of drilling locations for the three remaining exploration commitment wells. The operator has reported that drilling is tentatively scheduled to commence in the second half of 2010.


Sound Oil plc is a 20% shareholder (through its wholly owned subsidiary Mitra Energia Citarum Limited) in the Citarum PSC. 


Contacts:


Gerry Orbell, Sound Oil plc

Tel +44 (0) 7903 861145 


Azhic Basirov/David Jones, Smith & Williamson Corporate Finance Limited

Tel: +44 (0) 207 131 4000 


Tim Thompson, Buchanan Communications

Tel +44 (0) 207 466 5000


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