Gas Sales Agreement with Shell Energy Italia

RNS Number : 2507V

Sound Oil PLC

06 August 2015

 

6 August 2015

Sound Oil plc

("Sound Oil" or the "Company")

Sound Oil signs a gas sales agreement with Shell Energy Italia

Sound Oil, the Mediterranean focused upstream gas company is pleased to announce the signature of a gas sales agreement for the Casa Tonetto production concession, which includes the Nervesa gas field, with Shell Energy Italia, the local arm of Shell Energy Europe, which is Shell's gas, power and emissions trading entity in Europe.

The Agreement follows the recent Casa Tonetto production concession award and includes a pricing mechanism that enables Sound Oil to manage its risk/reward balance.

James Parsons, Sound Oil's Chief Executive Officer, commented:

"I am very pleased to report the signature of the gas sales agreement, which increases our exposure to Italian gas market and represents the first relationship with the Shell Group''

For further information please contact:

Vigo Communications - PR Adviser Patrick d'Ancona Chris McMahon Alexandra Roper	Tel: [phone]
Sound Oil James Parsons, Chief Executive Officer	[e-mail]
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones Ben Jeynes	Tel: [phone]
Peel Hunt - Broker Richard Crichton Charles Batten	Tel: [phone]

 

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