Possible acquisition

RNS Number : 0481B

Sound Oil PLC

20 October 2009

 



20 October 2009

Sound Oil plc

("Sound Oil" or the "Company")

Possible acquisition

Sound Oil, the upstream oil and gas company with assets in Indonesia, notes the recent press speculation and continued movement in its share price and confirms that it is in discussions about the possible acquisition of a private company, which is majority-owned by a trust connected with Mr. Frank Timis, with oil assets offshore West Africa. The transaction under discussion is expected to represent a reverse takeover under the AIM Rules and accordingly the Company has requested that trading in its shares be suspended.  This suspension will be lifted on publication of an admission document relating to this transaction or at such time as discussions are terminated. Any agreement regarding the reverse takeover will be conditional on the approval of the Company's shareholders in general meeting.

Further information on the Company can be found at www.soundoil.co.uk.

For further information please contact:

Sound Oil	07903 861145
Gerry Orbell, Chairman
Smith & Williamson Corporate Finance - Nomad	020 7131 4000
Azhic Basirov
David Jones
Evolution Securities - Joint Broker	020 7071 4300
Tim Redfern
Religare Hichens, Harrison – Joint Broker	020 7382 7776
Daniel Briggs
Buchanan Communications	020 7466 5000
Tim Thompson

 

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