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 Java, Indonesia.

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 [phone] 

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

Tel: [phone] 

Tim Thompson, Buchanan Communications

Tel [phone]

 

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