Some good buying,meeting at 10am today

Sound Oils Orbell highlights progress and looks forward to exciting drilling in coming months
8:28 am by Jamie Ashcroft

http://bit.ly/psVor1


The group has plenty of cash, with 11.4 million in the bank at the end of June, and it is preparing to kick off a significant drill programme in the coming months.
In this mornings interim results Sound Oil (LON:SOU) chairman and chief executive Gerry Orbell highlighted the group substantial progress in recent months, which has see the group add another dimension to its business.

Central to this was the March acquisition of Consul Oil & Gas which owned a portfolio of assets in Italy. The deal immediately added some diversity to the groups operations, which at that point was solely focused on Indonesia.

Since then the group has added a number of other Italian assets, the most recent example was this the award of the Costa Del Sole permit in Sicily, which was announced this morning.

Importantly the group has plenty of cash, with 11.4 million in the bank at the end of June, and it is preparing to kick off a significant drill programme in the coming months.

Sound is well funded and has an exciting exploratory programme ready to start in the Autumn, Gerry Orbell said in this mornings results statement.

We have acquired some very interesting acreage over the last few months which we are now focused on developing while continuing to consider additional opportunities for growth.

I am particularly pleased to announce that Sound has become a drilling operator in Italy for the first time allowing us to control the pace of our activities.

The first well in Sounds exciting drill programme will be the Casa Tiberi-1 well in Italy, which is expected to spud in October. This will be the first of three wells in Italy during this programme of work.

Meanwhile the Sungai-Lahei-1 well, on the Salamander Energy operated Bangkanai PSC, will be the first of five wells in Indonesia. It will be spudded in November, Sound said.

This deep well will be turned into the first production well in the shallower overlying Kerendan gas field, Orbell explained.

Another key focus of the Indonesian drill programme will be the Citarum PSC, in which Sound has a 20 per cent stake. Three wells will be drilled by its partner Pan Orient Energy Citarum.

During the reporting period Sound spent 600,000 on exploration and 1.3 million on administration. Additionally there was the 500,000 spent in relation the Italian acquisitions and there was a 600,000 unrealised foreign exchange loss.

Fox Davies capital -


Sound Oil (LON:SOU) (SOU, 2.17p, ▲ 2.35%) announced the award of the Costa Del Sole Permit, onshore Sicily to the Company's wholly owned subsidiary Apennine Energy. Apennine Energy will be the 100% interest holder and operator of the permit. The award is made by the Department of Energy of the Sicily Region subject to the submission and acceptance of an Environmental Impact Assessment. Apennine Energy will submit the necessary documentation in the next few days. The permit contains the Manfria-1bis oil discovery which flowed at a rate of 150 bopd and produced a cumulative 6,000 barrels during testing. It is estimated to contain P50 contingent resources of approximately 2 MMbo. An un-drilled prospect Cielo is adjacent to the discovery and could contain a similar resource if successfully drilled. Cielo appears to be in structural continuity with Manfria indicating a possible shared oil water contact and increased chance of hydrocarbon charge to the prospect.

Sound Oil an opportunity for speculative investors - Faraday Research
2:16 pm by Jamie Ashcroft In a note to clients Faraday equity analyst David Lowery issued a buy recommendation on the stock, following the groups interim results statement this morning.
At the current price Sound Oil (LON:SOU) shares offer speculative investors an opportunity to get a position in a fairly valued and well run micro-cap explorer ahead of drilling, according to analysts at Faraday Research.

In a note to clients Faraday equity analyst David Lowery issued a buy recommendation on the stock, following the groups interim results statement this morning.

Addressing investors in the results statement Sound Oil chairman and chief executive Gerry Orbell highlighted the group's substantial progress in recent months, which has seen it add another dimension to its business.

Central to this was the March acquisition of Consul Oil & Gas which owned a portfolio of assets in Italy. The deal immediately added some diversity to the groups operations, which at that point was solely focused on Indonesia.

"As often happens, the share price was driven by intense speculation after the Consul acquisition, peaking near 6.5p before declining back over the summer to pre-acquisition levels, Faradays David Lowery said in a note to clients.

With the shares now back at 2.2p, (we) believe that with drilling set to start on several projects, (including the new award in Sicily), the explorer offers speculative investors a chance to take a position in a fairly valued and well run micro-cap explorer.

Since the Consul acquisition the group has added a number of other Italian assets, the most recent example was this the award of the Costa Del Sole permit in Sicily, which was announced this morning.

Importantly the group has plenty of cash, with 11.4 million in the bank at the end of June, and it is preparing to kick off a significant drill programme in the coming months.

Sound is well funded and has an exciting exploratory programme ready to start in the autumn, Orbell said today.

We have acquired some very interesting acreage over the last few months which we are now focused on developing while continuing to consider additional opportunities for growth.

I am particularly pleased to announce that Sound has become a drilling operator in Italy for the first time allowing us to control the pace of our activities.

The first well in Sounds "exciting" drill programme will be the Casa Tiberi-1 well in Italy, which is expected to spud in October. This will be the first of three wells in Italy during this programme of work.

Meanwhile the Sungai-Lahei-1 well, on the Salamander Energy operated Bangkanai PSC, will be the first of five wells in Indonesia. It will be spudded in November, Sound said.

This deep well will be turned into the first production well in the shallower overlying Kerendan gas field, Orbell explained.

Another key focus of the Indonesian drill programme will be the Citarum production sharing contract (PSC), in which Sound has a 20 per cent stake. Three wells will be drilled by its partner Pan Orient Energy Citarum.

During the reporting period, Sound spent 600,000 on exploration and 1.3 million on administration. Additionally there was the 500,000 spent in relation the Italian acquisitions and there was a 600,000 unrealised foreign exchange loss.

Meanwhile in a separate statement Sound Oil announced that its wholly owned subsidiary Apennine Energy has been awarded a new permit, which hosts the Mafria heavy oil discovery, onshore Sicily.

The newly awarded Costa Del Sole permit is found in a known heavy oil area in the southwest coastal region of Sicily, where there are a number of established oilfields and discoveries. Nearby is the Gela field and heavy oil refinery.

There permit contains two key assets, the Manfria discovery and the un-drilled Cielo prospect.

Manfria is estimated to contain around 2 million barrels of oil. A previous well Manfria-1bis flowed at a rate of 150 barrels of oil per day and produced a cumulative 6,000 barrels during testing. Meanwhile the adjacent Cielo prospect it thought to contain a similar resource, if successfully drilled.

"I am pleased that this award continues the expansion of the Apennine portfolio of appraisal and development assets and provides us with additional opportunities for early drilling and revenue generation, said Orbell said.

The permit award was made by the Department of Energy of the Sicily Region and it is subject to the submission and acceptance of an Environmental Impact Assessment, which will be submitted in the next few days, Sound Oil said.

After that the company plans to acquire, reprocess and interpret legacy seismic data so that it can define drilling locations for possible appraisal and exploration wells.

Drilling near at Indonesia Barito gas-power project
HOUSTON, Sept. 29

Salamander Energy PLC plans to spud an exploratory well in late November 2011 on a large prospect adjacent to undeveloped Kerendan gas-condensate field in the Barito basin of inland East Kalimantan, Indonesia.

Sound Oil plc, which has a 5% carried interest in a two-well exploration program and the Kerendan development, said the Sungai Lahei-1 deep test will be turned into the first production well in the shallower overlying Kerendan gas field.

Three more wells are to be drilled at Kerendan in 2012, and gas production to a power plant 3 km from the field is to start in 2013-14 under a 20-year contract. A $90 million field development plan includes a gas processing plant.

K-1, a 1982 Unocal discovery, gauged 15 MMscfd and 300 b/d of condensate from Oligocene Berai reefal carbonates at 9,000 ft on long-term test. Salamander, with 69% interest, sees a prospective resource of more than 1.5 tcf in six prospects on the Bangkanai PSC.

late RNS -

30 September 2011



Sound Oil plc

("Sound Oil" or "the Company")



Director's dealing



Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, announces that today it granted options over 1,000,000 ordinary shares in the Company to Tony Heath, following his recent appointment as a director of the Company. The options have an exercise price of 2.2p per share and are exercisable from today until 30 September 2016

now the real news - LOL!! i am considering buying back in here soon - should add some points here!!! LOL - joking aside been out a litttle while but after some discussions believe now is near the time to be back in - see how this week goes elsewhere first - yeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

Looks very good to me gibby. A lot of drilling soon.

cheers dc - yep that's one of the reasons

Sound Oil Is Primed For Multiple Italian Discoveries And 2013 Production in Indonesia
October 03, 2011
http://oilbarrel.com/news/sound-oil-is-primed-for-multiple-italian-discoveries-and-2013-production-in-indonesia

The 12 month share price graph of AIM listed Sound Oil looks more like the altitude profile of Annapurna than the steady appreciation in value favoured by any sane Board. This mountainous resemblance was of course a reversal in the hype surrounding the companys change in focus from Indonesia to Italy after the acquisition of Consul Oil & Gas. Such expectations were always going to be hard to fulfil, but with a bank balance at the end of August in excess of 10 million and an extensive drilling and seismic programme stretching into late 2012, steady value creation is certainly on the cards.
Sound recently released its interim results for the 6 months to June 30, with CEO and Chairman Gerry Orbell confirming that the company ...is well funded and has an exciting exploratory programme ready to start in the autumn. We have acquired some very interesting acreage over the last few months which we are now focused on developing while continuing to consider additional opportunities for growth.
This acquisition and exploratory work refers to Montemarciano and Rapagnano in the Ancona area of Italy and the Costa Del Sole Permit onshore Sicily; while 5 further Italian projects and both Indonesian PSCs will see exploration action during the next 15 months. Production and cash flow is the end goal for Sound and to this end first gas at Kerendan in Indonesia is expected in the middle of 2013.
Disappointment at Marciano, where gas flowed in non-commercial volumes, has been tempered by the fact that the moveable surface gear owned by Sounds subsidiary Apennine should prove useful elsewhere in the portfolio. Candidates include the 5.7 Bcf (P50) Casa Tiberi prospect in the Montemarciano permit and the Lower Sabbie Sand in Rapagnano. The Casa Tiberi-1 well site is now ready and Sound expects to start drilling in late October. Shut-in gas field Rapagnano is estimated by consultant Synergy as retaining a recoverable 2.45 bcf after the well ceased producing in 2001. Subject to the authorities accepting Apennines EIA, Sounds subsidiary hopes to start work on the field by the end of 2011 and, at an estimated cost of US$0.5 million, recommence revenue production in the second quarter of next year.
The most recently awarded permit of Costa Del Sole is a heavy oil (12.2 API) target where the Manfria oil discovery, which has previously flowed at a rate of 150 bopd on test, was estimated by previous operator ENI at containing P50 contingent resources of 2 MMbbl. A second un-drilled prospect within the permit is Cielo which could share the same structure as Manfria and thus an improved chance of being successfully drilled. Gela, a town 10 kilometres away, conveniently has a heavy oil refinery.
Sounds two projects in Indonesia are the Bangkanai PSC and Citarum PSC in the respective territories of Kalimantan and Java. At Bangkanai, Sounds 5 per cent interest is carried through to production and operator Salamander Energy is planning to commence drilling a 4,385 metre well (Sungai Lahei-1) in late November. A further 3 wells, Kerendan-1, Kerendan-3 and Kerendan-4, are then planned in the first 3 quarters of next year, while West Kerendan, overlaying part of Kerendan.
Deep (Sungai Lahei-1), will see exploration drilling in Q3 of 2012. At a net cost of US$3 million to 20 per cent owner Sound, 3 exploration wells in the Citarum PSC are planned for late 2011/early 2012 and will fulfil the companys PSC firm commitments. Operator Pan Orient Energy Corp (POEC) estimated in October 2010 that P50 reserves of the 3 exploration wells to be drilled are 440 Bscf at Cataka, 380 Bscf at Jatayu and 102 Bscf at Geulis. Two other prospects in the PSC have resources estimated by POEC Lodaya in the far East of the licence at 640 Bscf is mountainous and thus difficult to access, and Mojang in the West at 49 Bscf was the smallest target and thus the lowest priority.
Gerry concedes that while investors in small cap companies dont expect miracles overnight, they do expect some action. Hold ups in Indonesia prompted the company to buy into Italy, but with new partners in South-East Asia, action is now being seen in both countries. Sound has enough fingers in pies to maintain a steady news flow to the market, and while previous disappointments have been heavily punished, standing still is not an option. Well funded, with a full work programme and a sniff of production, Sound now appears to be on its namesakes footing and primed to create lasting shareholder value.

http://www.theindonesiatoday.com/Resources-Photo/Resources-Photo/jatayu-1-drilling-to-start-late-november/News

I am thinging of buying into these with about 20k

Fill your tank up tanker

Should start to come on investors radars, with news due.

Late good news -
Wednesday 12 October, 2011Sound Oil PLC
Operation Update
RNS Number : 0794Q
Sound Oil PLC
12 October 2011




12 October 2011

Sound Oil plc

("Sound Oil" or "the Company")



Operations update - Citarum PSC



Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, refers shareholders to the following extract from an announcement released on 11 October 2011 by Pan Orient Energy Corp., the operator of the Citarum PSC located on Java, Indonesia in which Sound Oil has a 20% interest:



"Site construction has been completed for the Jatayu-1 well, is currently underway for the Cataka-1 well, and will be followed thereafter for the third well location. All drilling services contracts have been awarded. The drilling rig is currently stacked in close proximity to the Cataka-1 well location and will be moved onto the Cataka-1 well site and commence drilling upon the completion of the drill pad construction which is anticipated in mid-November 2011. The Cataka-1 well will be the first of a three well back to back exploration program that is anticipated to continue into the first two months of 2012."

starting to move now

http://moneyam.uk-wire.com/cgi-bin/articles/201110250700237541Q.html

word obviously got round that i am in here now hence more blue!! lol

2.75 + today?

excellent volumes - stong buying - loads of interest 2.7 / 3 finish should be easily achievable

volumes increasing one word............

kerrrrrrrrrrrrchinnnnnnnnnnnggggggggggggggggggggggggggggggggggggggggggg