Analyst Comment by Will Arnstein at JMFinn Capital Markets

Broker FinnCap released an upbeat comment on Sound Oil on the back of the news, calling the terms of the farm in agreement "relatively favourable".

According to finnCap analyst Will Arnstein, Casa Tiberi 1 provides an upside potential of about 8-10 pence, which could deliver a substantial change in value for the company, given its current share price.

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Share Price: 4.00 Bid: 3.90 Ask: 4.10 Change: 0.05 (+1.27%)
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Cashinjection
Posts: 53
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Opinion: No Opinion
Price: 4.05
Good Afternoon SOU crewToday 13:23

Been away for a while. Knew i should have topped up on 27/05 when the buy on TDW was 3.75 grrrrrrrrrr. Some great news emerging now, expect a nice rise from here as the week goes on :) jixie
Posts: 1,517
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Price: 4.13
Stockopedia NewsToday 10:10

Sound Oil eyes early drilling on new permit in Italy



Tuesday, Jun 07 2011 by

Sound Oil (LON:SOU) , the exploration and production group run by Antrim Energy chairman Gerry Orbell, has agreed to acquire an interest in the Montemarciano Permit, which lies in the Ancona Province, of central Italy. The deal gives the company an early opportunity to drill a low cost gas exploration well, which, in the best case, could provide near term cash flow and, in the high case, deliver significant upside to its overall asset base.

The farm-in has been struck between Sound Oils majority held subsidiary Apennine Energy and Servizi & Assistenza Ricerche Petrolifere (SARP), which currently holds a 100% working interest. Apennine will pay SARP 215,000 (191,000) as a contribution to past expenditure and fund the 100% cost of the Casa Tiberi-1 exploration well up to 800,000 to earn a 75% working interest in the permit and the operatorship.

The well will be drilled to 700m to evaluate potential gas-bearing sands in the Lower Pliocene Cellino Formation. Independent consultancy Fugro-Robertson has prepared a Competent Person's Report on the prospect and identified base case (P50) prospective resources of 5.7 billion standard cubic feet (bscf) of gas, with high case (P10) prospective resources of 14.9 bscf. The geological chance of success is calculated at 35%. On a success case basis the potential value (NPV10) of the project is assessed to be $11.6 million for the base case and $37.1 million for the high case.

SARP has already received the necessary approvals to drill the well and work on the construction of the Casa Tiberi well site will begin as soon as land access is finalised. It is anticipated that the well will be drilled in either the third or fourth quarter of this year.

Gerry Orbell, the chairman of Sound Oil, said: This deal gives us an early opportunity to drill a very low cost well to explore for gas resources which if successful in the P50 case should provide near term cash flow and in the high case will have a considerable impact on our assets base. The well will be drilled as an addition to the existing operations programme, using funds previously raised by the company earlier in 2011. http://www.stockopedia.co.uk/content/sound-oil-eyes-early-drilling-on-new-permit-in-italy-57119/

Sound Oil secures farm-in agreement in Italy
StockMarketWire.com
Sound Oil plc, through its majority held subsidiary Apennine Energy srl (Apennine), has concluded a Farm-In Agreement with Servizi & Assistenza Ricerche Petrolifere spa (SARP) to acquire an interest in the Montemarciano Permit located in Ancona Province, central Italy. The permit is currently operated by SARP with 100% working interest.

Under the terms of the Agreement, Apennine will pay SARP 215,000 ($290,000) as a contribution to past expenditures and fund the 100% cost of the Casa Tiberi-1 exploration well up to 800,000 ($1,080,000) to earn a 75% working interest in the permit and the Operatorship.

Date: Monday 06 Jun 2011

LONDON (ShareCast) - Shares in Sound Oil gushed ahead after it reported that a completion operation at its Marciano-1ST Well in southern Italy had begun.

Sound will perforate two potential gas-bearing zones at the well. Work is expected to take two days to complete, it said.

We are pleased to be starting operations on the Marciano well and look forward to successful testing operations that will enable us to move forward with early commercialisation of the project, chairman and chief executive Gerry Orbell said.

--------------------------------------------------------------------------------

Nice to see soon if, Gerry Orbell has found an investor for these 93 million shares Rab are to off load.
Otherwise I feel we are going to be held back, taking the effect of good news away from the sp.

This is bubbling under..soon to break out!

small rise today. Early next week, news due on the Marciano well in Italy.

Also whats the 2.8 million drawdown for?

Very poor, there is just no buying pressure

Thursday 16 June, 2011Sound Oil PLC
Holding(s) in Company
RNS Number : 5500I
Sound Oil PLC
16 June 2011

SOUND OIL PLC

HOLDING(S) IN COMPANY



TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi






1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii
SOUND OIL PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights:
X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached:



An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments:



An event changing the breakdown of voting rights:



Other (please specify):





3. Full name of person(s) subject to the notification obligation: iii
RAB Capital plc acting as discretionary manager for RAB Energy Fund Limited and RAB Octane (Master) Fund Limited

4. Full name of shareholder(s) (if different from 3.):iv
Credit Suisse Client Nominees (UK) Limited

5. Date of the transaction and date on which the threshold is crossed or reached: v
04.05.11, 17.05.11 & 31.05.11

6. Date on which issuer notified:
15.06.2011

7. Threshold(s) that is/are crossed or reached: vi, vii
12%, 11% & 10%







8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE
Situation previous
to the triggering
transaction
Resulting situation after the triggering transaction

Number
of
Shares
Number
of
Voting
Rights
Number
of shares
Number of voting
rights
% of voting rights x

Direct
Direct xi
Indirect xii
Direct
Indirect

ORDINARY SHARES*

GB00B09VL556
145,824,606
145,824,606


n/a
98,574,606
6.32%
%




B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument
Expiration
date xiii
Exercise / Conversion Period xiv
Number of voting rights that may be acquired if the instrument is exercised/ converted.
% of voting
rights












C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument
Exercise price
Expiration date xvii
Exercise/
Conversion period xviii
Number of voting rights instrument refers to
% of voting rights xix, xx











Nominal
Delta



















Total (A+B+C)

Number of voting rights
Percentage of voting rights

98,574,606
6.32%







9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi



*RAB Capital plc acts as investment manager for RAB Energy Fund Limited and RAB Octane (Master) Fund who are the beneficial owners of the securities. The legal title to these securities is held on behalf of the beneficial owners by their nominee, Credit Suisse Client Nominees (UK) Limited.



Proxy Voting:

10. Name of the proxy holder:
n/a

11. Number of voting rights proxy holder will cease to hold:
n/a

12. Date on which proxy holder will cease to hold voting rights:
n/a

13. Additional information:
n/a

14. Contact name:
RAB Capital plc - Legal Team

15. Contact telephone number:
020 7389 7000

Go needs to find an investor asap. Rab still have 98.5 million

HOLDINGS - 2011 TheMysteron





View Author's profile | Add to favourites | Ignore | Author's posts

HOLDINGS 2011 (Date of actual sale/buy ,not the RNS date)

RAB Energy Fund Limited and RAB Octane (Master) Fund Limited.
The legal title to these shares is held by Credit Suisse Client Nominees (UK) Limited.

15.12.10.....32,084,290
06.01.11.....277,917,624 (Following aquisition of Consul Oil & Gas)
21.01.11.....286,074,606 (18.8%)
15.02.11.....256,074,606 (16.9%)
09.03.11.....238,574,606 (15.74%)
18.03.11.....187,574,606 (12.38%)
25.03.11.....162,574,606 (10.42%)
04.04.11.....145,824,606 (09.35%)
31.05.11.....098,574,606 (06.32%)

Mr. Gavin Wilson who is the appointed fund manager of RAB Energy Fund Limited and RAB Octane (Master) Fund Limited and is an employee of RAB.

06.01.10.....53,000,000 (Following aquisition of Consul Oil & Gas)
21.01.11.....53,000,000 (3.5%)
15.02.11.....53,000,000 (3.5%)
09.03.11.....53,000,000 (3.5%)
18.03.11.....53,000,000 (3.5%)
25.03.11.....53,000,000 (3.5%)
04.04.11.....47,000,000 (3.01%)


GARTMORE INVESTMENT LTD

09.02.11.....58,722,831

----------------------------------------------------------------

Shareholders with >3% (http://www.soundoil.co.uk/investors_aim26.asp)

AIM Securities in Issue - 1,613,999.755

Credit Suisse Client Nominees (UK) Limited.....10.47%
Barclayshare Nominees Limited..................10.24%
Pershing Nominees Limited......................10.14%
T D Waterhouse Nominees (Europe) Limited.......09.19%
HSDL Nominees Limited 1........................05.84%
LR Nominees Limited............................05.71%
HSDL Nominees Limited 2........................05.66%
James Capel (Nominees) Limited.................03.99%
--------------------------------------------------------------------------------

TIDMSEDOL/ISIN Print Friday 17 June, 2011Sound Oil PLC
Operations Update: Marciano-1ST Completion
RNS Number : 6647I
Sound Oil PLC
17 June 2011



Immediate Release
17 June 2011




SOUND OIL PLC

("Sound Oil" or "the Company"")



Operations Update: Marciano-1ST Completion



Sound Oil is pleased to announce that the perforation operation on Marciano-1ST was completed successfully and to schedule. The rig is being demobilised and is expected to be off site within the next two days.


The clean-up and flowing of fluids in the formation is the next part of the operation and was scheduled to follow on immediately, without the need for a rig. This operation has, however, been temporarily suspended because a contractor's equipment that is required for the lift and flow of the well, failed on site. Replacement equipment has been identified and will be available in approximately one week when the operation is expected to re-commence.

Commenting on the above Gerry Orbell, Chairman said: This is one of those frustrations that can crop up from time to time in any well operation when a lot of interdependent equipment is required. The contractor is making every effort to replace the equipment as quickly as possible but in the meantime we are held up for a short time.



For further information please contact:


Sound Oil
Gerald Orbell, Chairman
Tel: +44 (0)7903 861 145

Buchanan Communications
Tim Thompson
Ben Romney
Tel: +44 (0)207 466 5000



finnCap
Sarah Wharry
Henrik Persson Tel: +44 (0)207 600 1658

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Please Note - Streaming News is only available to subscribers to the Active Level and above



Sound Oil completes Marciano-1ST perforation
StockMarketWire.com
Sound Oil has completed the perforation operation on Marciano-1ST successfully and to schedule

The rig is being demobilised and is expected to be off site within the next two days.

The clean-up and flowing of fluids in the formation is the next part of the operation and was scheduled to follow on immediately, without the need for a rig.

But this operation has been temporarily suspended because a contractor's equipment that is required for the lift and flow of the well, failed on site.

Replacement equipment has been identified and will be available in approximately one week when the operation is expected to re-commence.

Chairman Gerry Orbell said: "This is one of those frustrations that can crop up from time to time in any well operation when a lot of interdependent equipment is required.

"The contractor is making every effort to replace the equipment as quickly as possible but in the meantime we are held up for a short time."



At 1:19pm: (LON:SOU) share price was -0.07p at 3.58p


Story provided by StockMarketWire.com

Good honest update, well done GO.

Wait for the gas flow rates next week, looking good.

Having read all the boards of Sound this evening. They are full of admiration of Go in
being straight to the point, no bull -hit and honest. Perhaps some other directors
want to look and learn. This is what share holders look for. On time rns and be honest, great. Sound keep this up and the share holders are on your side. Well done Go.

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RAB Capital to confirm delisting next week: source

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By Laurence Fletcher

LONDON | Fri Jun 17, 2011 1:34pm EDT

LONDON (Reuters) - Beleaguered hedge fund manager RAB Capital (RAB.L) is expected to confirm its planned delisting next week, a source familiar with the matter told Reuters, as the firm battles to survive after an exodus of clients.

The company, which has seen assets tumble from about $7 billion at end-2007 to about $1 billion, is expected to continue life as a private company with its flagship Special Situations fund and several other funds, the source added.

RAB declined to comment.

Once the darling of the hedge fund industry after returns of more than 1,000 percent in 2003, RAB saw its shares plummet last month after announcing further client exits and saying it may delist. [nLDE74A08I]

After an "unsatisfactory" loss of 20.2 million pounds ($32.6 million) in 2010, and with assets heading downwards and spread thinly across a number of funds, commentators speculate the firm may eventually wind up or find a buyer or merger partner. [nLDE72E26H]

"I think it is far too wounded," said one London-based hedge fund manager, who asked not to be named. "It will be as slow a death as they choose to make it ... It (would have to) be a Lazarus-like recovery."

Last month, Singer analyst Sarah Ing said the firm had reached "the point where they have got to pursue closing down the entire business."

In April, RAB said 79 percent of clients wanted to exit its Special Situations fund, which bought into Northern Rock before its collapse, when a three-year lock-up ends in October this year. [nLDE73515S].

COSTS

RAB's assets are spread across a range of funds, which are normally costlier to run than one large fund.

"If they were running one strategy with $1 billion and prospects for that strategy were really positive, then things would be reasonably ok," said one hedge fund executive who spoke on condition of anonymity.

"The firm is over-resourced. It's hard to cut staff ... as it further hurts their credibility with investors."

While RAB, which counts the super-rich Mittal family among its shareholders, does not normally disclose the size of its individual funds, data seen by Reuters suggests many of its funds may lack critical mass.

The firm runs four funds under $25 million, while its European Credit Opportunities fund is $58 million, its Octane fund is $79 million and Global Mining and Resources is $100 million.

Cross Europe, one of its best asset-gatherers in 2009, was $108 million in size but has been closed down, while Special Situations -- once the cornerstone of the firm -- has $472 million in assets but this is set to drop to around $100 million when it pays out clients in October.

Its next biggest fund is Energy at $247 million.

In 2010, management fees fell to 9.2 million pounds from 10.7 million pounds, while performance fees slipped to 2.4 million pounds from 2.8 million pounds. Fixed costs dropped to 17.7 million pounds from 19.3 million pounds.

The firm could look at potential merger partners as a way of rebuilding its finances and attracting back nervous investors, although co-founders Philip Richards and Michael Alen-Buckley could also run the firm in a slimmed-down form.

"It's very difficult for the firm. Its survival prospects are really in question," the hedge fund executive said.

"It could be they decide it's their firm and they'll ride things through for the longer term. But if you're looking purely at the bottom line and if I were in their shoes I'd be looking for someone to acquire the business."

(Twitter: www.twitter.com/reutersfletcher. To read the Reuters Funds Blog click on blogs.reuters.com/fundshub; for the Global Investing Blog click here)

(Reporting by Laurence Fletcher; Editing by Douwe Miedema and Erica Billingham

Just been looking how long at a guess RAB will take to dispose of their shares in Sound.
Will depend on the sp holding to the level they want to off load at. Also the general market conditions. My guess is they are going to off load their full holding.


As at 31/5/11 holding (millions) 098,574,606 6.32%
Since the 31/5 we have had 13 more trading days which Rab have clearly been off loading.
At a guess another 20-25 million have gone, may be more or less.

If with news and strong buying the sp stays strong, to enable a strong disposal.
Looking back to the period from 9th March - 18th March (8trading days)
Rab went from 238,574,606 down to 187,574,606. 51million sell.
I do not know market conditions then.

Say 80 million left = 12 trading days . Only a guess from the above figures.
Not looking to bad in my opinion.

You are a lone voice on here dreamcatcher but not alone in your hopes for SOU---I hold and hope to get some good rewards. the markets are so bad at the moment any positive news is wasted!