hi dc - a few days till 700m then - good stuff

A good clear rns gibby. Await the news.

Still seems to be a big seller in the background, RAB? Lets hope they are history by month end. Surprised we are red today. Roll on next week.

Thursday 10 November, 2011Sound Oil PLC
Acquisition of Celtique & Private Placement Heads
RNS Number : 8252R
Sound Oil PLC
10 November 2011



10 November 2011








Sound Oil plc

("Sound Oil" or "the Company")



Acquisition of Celtique Energie SpA and Private Placement Heads



Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia is pleased to announce the acquisition of Celtique Energie SpA ("Celtique") which materially uplifts Sound Oil's core NPV, together with the signature of Heads of Terms for a private placement of new ordinary shares.



Celtique is a private Italian company that owns 50% working interests in three permits in Italy:



Torrente Alvo (Strombone oil discovery)



Carita (Nervesa gas discovery)



Monte Negro (gas exploration)



Sound Oil previously held a 50% interest in each of these permits which now increases to 100% as a result of the acquisition.



The total consideration is US$9.0 million comprising US$5.0 million in cash from the Company's existing funds (cash consideration of US$4.4 million and US$0.8 million in settlement of an inter-company loan net of US$0.2 million cash held by Celtique), 59,003,029 Sound Oil ordinary shares to the value of US$2.5 million (locked in for between 6 and 24 months) and 32,995,553 Sound Oil ordinary shares to the value of US$1.5 million (not subject to a lock in); all the consideration shares are subject to an orderly marketing arrangement. The total acquisition price represents US$1.8/boe.



All three permits have been the subject of an updated Competent Persons Report undertaken by Fugro Robertson which included the following key estimates in relation to Celtique's permits:



Best estimate of contingent oil resources (2C) at Strombone of 6.4 MMbo (3.2 MMbo Celtique share) with a NPV10 success case of US$131.0 million (US$65.5 million Celtique share).



Best estimate of contingent gas resources (2C) at Nervesa of 20.7 Bscf (10.4 Bscf Celtique share) with a NPV10 success case of US$61.6 million (US$30.8 million Celtique share).



In addition the Company has signed Heads of Terms with Astin Capital Management Limited ("Astin") on behalf of investment funds managed by Astin to fund drilling operations with a minimum of 4 million new equity across two tranches of ordinary shares. The funding is subject to a final legal agreement to be completed within 30 days with key terms including:



Shares to be issued at 90% of the average price over the preceding 40 days.



Three year warrants will be issued at a ratio of 6 warrants for each 10 shares issued. These warrants will be exercisable any time at 110% of the average price of the underlying shares for the 40 trading days prior to the date of issue.



Potential for the private placement (on the same terms and timeline) to be increased up to an additional 6 million for future acquisitions and development.



Astin (including connected funds and investors) will not acquire more than 25% of the issued share capital.



The Company intends to use the funds raised for drilling operations, including the Nervesa discovery, during 2012.





Commenting on the above Gerry Orbell, Sound Oil's Chairman and CEO said:



"This acquisition marks a very important step for the Company, as reinforced by the updated Competent Persons Report. We now own 100% of both Nervesa and Strombone which together are estimated to be worth over US$190 million (NPV10 success case). As sole owner and Operator, Sound is now able to control the pace of activity and it remains our intention to drill Nervesa in 2012

Fox Davies Capital
Oil & Gas Corporate News

Sound Oil (LON:SOU) PLC (SOU LN, 2.83p, ▲ 1.80%) today announced the acquisition of Celtique Energie SpA ("Celtique") which materially uplifts Sound Oil's core NPV, together with the signature of Heads of Terms for a private placement of new ordinary shares. Celtique is a private Italian company that owns 50% working interests in three permits in Italy: Torrente Alvo (Strombone oil discovery), Carita (Nervesa gas discovery), and Monte Negro (gas exploration). Sound Oil previously held a 50% interest in each of these permits which now increases to 100% as a result of the acquisition. The total consideration is US$9.0 million comprising US$5.0 million in cash from the Company's existing funds (cash consideration of US$4.4 million and US$0.8 million in settlement of an inter-company loan net of US$0.2 million cash held by Celtique), 59,003,029 Sound Oil ordinary shares to the value of US$2.5 million (locked in for between 6 and 24 months) and 32,995,553 Sound Oil ordinary shares to the value of US$1.5 million (not subject to a lock in); all the consideration shares are subject to an orderly marketing arrangement. The total acquisition price represents US$1.8/boe.

All three permits have been the subject of an updated Competent Persons Report undertaken by Fugro Robertson which included the following key estimates in relation to Celtique's permits: Best estimate of contingent oil resources (2C) at Strombone of 6.4 MMbo (3.2 MMbo Celtique share) with a NPV10 success case of US$131.0 million (US$65.5 million Celtique share), and best estimate of contingent gas resources (2C) at Nervesa of 20.7 Bscf (10.4 Bscf Celtique share) with a NPV10 success case of US$61.6 million (US$30.8 million Celtique share). In addition the Company has signed Heads of Terms with Astin Capital Management Limited ("Astin") on behalf of investment funds managed by Astin to fund drilling operations with a minimum of 4 million new equity across two tranches of ordinary shares. The funding is subject to a final legal agreement to be completed within 30 days, and the Company intends to use the funds raised for drilling operations, including the Nervesa discovery, during 2012.

strong buying

http://www.proactiveinvestors.co.uk/companies/news/35428/sound-oil-takes-full-control-of-strombone-and-nervesa-discoveries-in-italy--35428.html

A very late RNS


Thursday 10 November, 2011Sound Oil PLC
Drawdown on Equity Line
RNS Number : 9080R
Sound Oil PLC
10 November 2011



10 November 2011



Sound Oil plc

("Sound Oil" or "the Company")



Drawdown on Equity Line



Sound Oil announces that it has drawn down on its Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd ("Yorkville") in the amount of 350,000. This draw down has been undertaken at a price of 2.6p per share and will result in the issue of 13,461,538 ordinary shares of 0.1p each in the Company ("the New Ordinary Shares") to Yorkville.



The proceeds of the draw down will be applied to the funding of Sound Oil's combined work programme and ongoing costs of the Company and its subsidiaries.



Application will be made for the New Ordinary Shares to be admitted to AIM and dealings are expected to commence on 17 November 2011. The New Ordinary Shares will rank pari passu with the Company's existing issued ordinary shares.

http://www.soundoil.co.uk/documents/Sound_Activity_Update_Italy_November2011.pdf

Italian gas discoveries for Sound Oil
StockMarketWire.com
Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, has announced that the Casa Tiberi-1 exploration well in Italy, which is operated by the company's wholly-owned subsidiary Apennine Energy, has been successfully drilled to a total depth of 715 m measured depth.

Logging of the well has established a gross hydrocarbon column of 14.9 m, comprising several high quality gas bearing reservoir sands.

Sound Oil is suspending the well as a gas discovery pending future work in the coming months, to determine the extent and commerciality of the accumulation.

By drilling the well to 715 m MD, it has completed its original farm-in obligations on the Montemarciano Permit and has earned its 75% working interest in the licence.

Subsequently its partner SARP, a small private Italian company which holds a 25% working interest in the licence, has withdrawn from the well and assigned its interest in the well to Sound Oil meaning the company therefore now holds a 100% working interest in the gas discovery and a 75% interest in the surrounding permit.

Gerry Orbell, Chairman and CEO of Sound Oil, commented: "We are pleased that the drilling of Casa Tiberi-1 has resulted in a gas discovery from our first operated exploration well in Italy. We will evaluate the results going forward and consider how best to bring this accumulation on-stream which could include the use of the gas processing and electricity generating equipment that the company owns at the Marciano location."

almost time for me to buy again

http://www.proactiveinvestors.co.uk/companies/news/35636/sound-oil-says-casa-tiberi-1-has-made-gas-discovery-35636.html

So pleased we did not hit a duster. Hit a gas play and sp falls.
Just seen the late trade of 13 million, good if a buy or a few less RAB hold if a sell.

Broker Views This table is a guide to the latest buy, sell, hold and target price forecasts from the big City banks and brokers. Date Company Name EPIC Broker Recommendation Price Old target price New target price Notes
15 Nov Sound Oil PLC SOU Investec Buy 2.40 4.00 6.00 Reiterates

21 November 2011



Sound Oil plc

("Sound Oil" or "the Company")



Operations update: Casa Tiberi-1 well, Montemarciano Permit



Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, is pleased to announce that the Casa Tiberi-1 exploration well, operated by its wholly-owned subsidiary Apennine Energy, has been successfully completed. The well achieved a gas flow rate of 26,000 scmd (approximately 0.91 MMscfd) on a restricted choke during clean-up operations. The well is currently being suspended and the drilling rig demobilised. The Company will study data from the well to determine a programme for additional testing of the well and subsequent potential commercial production of the discovery.

Operations Update
RNS




RNS Number : 8081S
Sound Oil PLC
25 November 2011









25 November 2011







Sound Oil plc



("Sound Oil" or "the Company")







Operations Update - Drilling on Citarum PSC, Java, Indonesia







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 24 November 2011 by Pan Orient Energy Corp., the operator of the Citarum PSC located on Java, Indonesia in which Sound Oil has a 20% interest:







"At the Citarum PSC on-shore Java (Pan Orient operator and 77% ownership), one location (Jatayu-1) has been completed and a second location (Cataka-1) is approximately 90% complete after having experienced some delay as a result of annual monsoon rains. Surface casing has been set on both wells utilizing a service rig and drilling rig mobilization on to the Cataka-1 location is planned to commence on November 26th with drilling to commence in early to mid-December. Construction on the third location of Geulis-1 will commence shortly after the completion of construction on Cataka-1. All three wells are planned to be drilled back to back starting with Cataka-1 in the first half of December 2011."

http://www.theindonesiatoday.com/Resources/Energy/sound-oil-confirms-progress-at-citarum-block/News

Very strong buying up 8% +

Cataka-1 spud very soon.

Completion of Private Placement
RNS




RNS Number : 1855T
Sound Oil PLC
01 December 2011









1 December 2011







Sound Oil plc



("Sound Oil" or "the Company")







Completion of Private Placement







Further to the announcement made on 10 November 2011, Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, announces the completion of a private placement through Astin Capital Management Limited ("Astin"). The private placement is structured across two tranches and involves a target new equity investment of 4 million with the potential for this investment to be increased up to a total of 10 million.







Following negotiation under the Heads of Terms, the first tranche of 100 million ordinary shares will be issued on 9 December priced at 2 pence per share (representing an initial placement of 2 million) with associated warrants exercisable also at 2 pence. The second tranche of up to 8 million is anticipated to be issued in February 2012, priced at 90% of the average price over the preceding 40 trading days. The associated warrants will be exercisable at 110% of the 40 trading day average price.







All warrants are issued at a ratio of 6 warrants for each 10 ordinary shares and are exercisable at any time during their three year term.







The private placement stipulates that Astin (including connected funds and investors) will not acquire more than 25% of the issued share capital and that the Company may elect not to increase the total placement above 4 million should the price on the day prior to issue fall to 1.6 pence or below.







The Company intends to use the funds raised for drilling operations, including the Nervesa discovery, during 2012.







Commenting on the above Gerry Orbell, Sound Oil's Chairman and CEO said:



"This private placement maintains Sound Oil's strong funding position following the Celtique acquisition and enables the execution of our high impact drilling programme. We are pleased to be able to complete the first tranche earlier than planned."