Response to Press Comment

RNS Number : 1457W

Sound Oil PLC

15 November 2010

 



For immediate release                                                                                              15 November 2010

Sound Oil plc

Response to Press Comment

Sound Oil plc notes the speculation in the FT over the weekend and can confirm that the company is in discussions to acquire Consul Oil and Gas, which owns a portfolio of Italian appraisal, development and exploration assets, and simultaneously undertake a placing to raise working capital for the enlarged group. The transaction is not deemed a reverse takeover under the AIM Rules for Companies. Discussions are ongoing and a further announcement will be made in due course.

Enquiries:

Sound Oil plc                                                                      Tel: [phone]

Gerry Orbell, Chairman               

finnCap                                                                               Tel:  [phone]

Sarah Wharry / Henrik Persson (corporate finance)

Tom Jenkins / Joanna Weaving (corporate broking)                                

Buchanan Communications

Tim Thompson                                                                   Tel: [phone]                           

 

END

 

 

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