Rapagnano Production Update

RNS Number : 3385X

Sound Oil PLC

10 January 2014

 



10 January 2014

Sound Oil plc

("Sound Oil" or "the Company")

Rapagnano Production Update

Sound Oil, the European / Mediterranean focused upstream oil and gas company, is pleased to announce an update on 2013 production at the onshore Rapagnano field.

Total 2013 production for the period May to December was 2.25 MMscm (79.45 MMscf), some 15% above budget.  This was achieved without lost time incident.  The average production rate was 9,770 Scmd (0.34 MMscfd) with total 2013 gas deliveries yielding revenue of circa €567,000, which is €900,000 on an annualised basis.

The Company plans to produce a further 1.2 Bscf over a twelve year period. 

For further information please contact:

Sound Oil James Parsons, Chief Executive Officer Stuart Joyner, Chief Financial Officer	[e-mail] [e-mail]
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones	Tel: [phone]
Peel Hunt - Broker Richard Crichton Charles Batten	Tel: [phone]

Scm means standard cubic metres; Scmd means standard cubic metres per day; MMscm means million standard cubic metres; MMscf means million standard cubic feet; MMscfd means million standard cubic feet per day; Bscf means billion standard cubic feet.

 

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