Sound Energy has capitalised on depressed market conditions to renegotiate and reduce its Badile wells costs by EUR5million.
Sound Oil confirmed a leadership reshuffle after two of its senior leaders stepped down.
Sound Oil, the Mediterranean focused upstream gas company, made a first-half pretax loss of £3.89million compared with a 2014 loss of £2.05million.
Sound Oil has confirmed that it is still on track for production from its Nervesa gas discovery in Italy by the end of the year.
Sound oil has signed a two-month exclusivity agreement with Maghreb Petroleum Exploration to buy a subsidiary of the Moroccan Sidi Moktar licences. The Sidi Moktar licence covers 3000km2 onshore in the Essaouira basin which contains multiple gas discoveries. Sound said it is carrying out due diligence and it will issue further updates in due course.
Sound Oil, the Mediterranean focused upstream gas company, has signed a gas sales agreement with Shell for the Casa Tonetto production concession.
Sound Oil, the Mediterranean focused upstream gas company, can begin commercial production from the onshore Casa Tonetto production concession after receiving the go-ahead from the Italian government.
European oil and gas explorer Sound Oil announced changes to its management team today. Luca Madeddu, an existing director of the company and currently managing director for Italy, is taking on the role of managing director for Morocco.
Sound Oil has received approval of its Environmental Impact Assessment for the Nervesa field production concession. It is anticipated the award of the concession from the Italian Ministry of Economic Development will follow shortly. The company said preparations for the drilling of the second Nervesa well are nearing completion - with the rig now having arrived at the well site.
Antrim Energy is set to consider a £6.35million offer from Sound Oil. The Canada-focused company said it will consult with its board and legal and financial advisers following the takeover bid. Mediterranean-focused explorer Sound Oil announced yesterday its desire to purchase the company.