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





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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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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

inShare.2Share thisEmailPrintRelated NewsUPDATE 2-RAB Capital to confirm delisting next week-source
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Inflows Outflows
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!

I agree moneyplus, good news seems short lived.

Thanks to nat81

16:49 email from GO re RAB - 21 Jun nat81 5






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well, further to entropick suggestion asking SOU to buy small remaining RAB shares, I then asked my husband to email SOU (my husband is working in investment institution in Mayfair) and this is the positive reply he got from Gerry. I dont think any harm posting his email below.
------------------------------
Dear xxxxx

Thank you for your note.

I like your suggestion and have had the same thoughts myself. I have however asked for legal advice on this and been told by our advisers that this is not allowable under AIM. rules.

Even so I have seen Rab recently and expressed my concern and also to our Brokers. They are trying to find a solution as quickly as possible.

Thank you for your support

Regards

Gerry Orbell
--------------------------------------------------------------------------------

Friday 24 June, 2011Sound Oil PLC
Operations Update
RNS Number : 0530J
Sound Oil PLC
24 June 2011



For Immediate Release
24 June 2011




Sound Oil PLC



("Sound Oil" or "the Company")



Operations Update: Marciano-1ST Well Testing.



Sound Oil is pleased to announce that operations on Marciano-1ST well is expected to recommence on 25 June. Contractors and necessary equipment are currently being mobilised to the well site to undertake testing operations. The test programme is expected to take a minimum of 4 days.





For further information please contact:



Sound Oil



Gerry Orbell, Chairman and CEO

Michael Cope, Chief Operating Officer


Tel: +44 (0)1372 365745







Buchanan Communications

Tim Thompson

Ben Romney
Tel: +44 (0)207 466 5000









finnCap

Sarah Wharry

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











This information is provided by RNS
The company news service from the London Stock Exchange

END

Sound Oil recommences operations
StockMarketWire.com
Sound Oil says that operations on Marciano-1ST well are expected to recommence on 25 June.

Contractors and necessary equipment are currently being mobilised to the well site to undertake testing operations. The test programme is expected to take a minimum of 4 days.

At 9:45am: (LON:SOU) share price was +0.18p at 3.5p


Story provided by StockMarketWire.com







For immediate release
28 June 2011




SOUND OIL PLC

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



Sound Oil is pleased to announce the following news concerning its Italian and Indonesian assets.



Marciano-1ST Well Completion, Basilicata, Italy



Testing operations at the Marciano-1ST well have produced gas at rates up to 98,000 scmd (~ 3.5 MMscfd) from one of the two perforated zones before the well had to be restrained due to site flare restrictions. The test will continue to determine a stabilised flow rate and information from the test flow will be used to determine the scope for early commercialisation of the well.



Sound Oil has a 100% operated interest in the Marciano project located on the Fonte San Damiano Concession.



Bangkanai PSC, Kalimantan, Indonesia



The Operator of the PSC, Salamander Energy Bangkanai Limited, has today signed on behalf of the joint venture group a Gas Sales and Purchase Agreement to supply the Indonesian state electricity company PT PLN with up to 20.3 MMBtu per day (~20 MMscfd) of gas from the Kerendan Field. The gas price has been struck at $4.79/Mscf ($5.08/MMBtu) escalated at 3% per three years. The gas will be used in a power plant to be constructed adjacent to the field. Sound's net proven reserves in this project are 6.1 Bscf.



The signing of the GSA secures the extension of the PSC contract and will allow the implementation of development of the Kerendan Field and the fulfilment of outstanding exploration drilling commitments. First gas from the field is expected in mid 2013.



The Operator has informed its partners that an exploration drilling programme will commence later this year to drill two wells to target prospective resources in Oligocene carbonate and deeper Eocene sandstone objectives. The first well (Sungai Lahei-1) will drill the Kerendan Deep prospect and also act as a first development well for the Kerendan field.



Sound Oil has a 5% interest in the Bangkanai PSC with all its costs carried until first gas from the Kerendan Field.





Commenting on these announcements Gerry Orbell, Sound Oil's Chairman and Chief Executive Officer, said:



"This is a very encouraging result from Marciano where the upper sand has tested gas at very good rates. The next step is to re-certify the production equipment on site and then to generate revenue. Elsewhere, in Indonesia, the Gas Sales and Purchase Agreement has been signed today with the government electricity utility and this opens the way for the operator to move along with developing Kerendan and drilling the large exploration prospect at Sungei Lahei. Altogether today is a very good day for the Company."



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





This information is provided by RNS
The company news service from the London Stock Exchange

END

Successes for Sound Oil in Italy and Indonesia
StockMarketWire.com
Sound Oil has undertaken test operations at the Marciano-1ST well in Basilicata in Italy and have produced gas at rates up to 98,000 scmd (~ 3.5 MMscfd) from one of the two perforated zones before the well had to be restrained due to site flare restrictions.

The test will continue to determine a stabilised flow rate and information from the test flow will be used to determine the scope for early commercialisation of the well.

Sound Oil has a 100% operated interest in the Marciano project located on the Fonte San Damiano Concession.

At Bangkanai PSC in Kalimantan, Indonesia, the operator, Salamander Energy Bangkanai Limited, has signed on behalf of the joint venture group a Gas Sales and Purchase Agreement to supply the Indonesian state electricity company PT PLN with up to 20.3 MMBtu per day (~20 MMscfd) of gas from the Kerendan Field.

The gas price has been struck at $4.79/Mscf ($5.08/MMBtu) escalated at 3% per three years. The gas will be used in a power plant to be constructed adjacent to the field. Sound's net proven reserves in this project are 6.1 Bscf.

The signing of the GSA secures the extension of the PSC contract and will allow the implementation of development of the Kerendan Field and the fulfilment of outstanding exploration drilling commitments. First gas from the field is expected in mid 2013.

The operator has informed its partners that an exploration drilling programme will commence later this year to drill two wells to target prospective resources in Oligocene carbonate and deeper Eocene sandstone objectives. The first well (Sungai Lahei-1) will drill the Kerendan Deep prospect and also act as a first development well for the Kerendan field.

Sound Oil has a 5% interest in the Bangkanai PSC with all its costs carried until first gas from the Kerendan Field.

Commenting on these announcements Gerry Orbell, Sound Oil's Chairman and Chief Executive Officer, said: "This is a very encouraging result from Marciano where the upper sand has tested gas at very good rates. The next step is to re-certify the production equipment on site and then to generate revenue. Elsewhere, in Indonesia, the Gas Sales and Purchase Agreement has been signed today with the government electricity utility and this opens the way for the operator to move along with developing Kerendan and drilling the large exploration prospect at Sungei Lahei. Altogether today is a very good day for the Company."

At 10:51am: (LON:SOU) share price was +0.48p at 3.85p



For immediate release
28 June 2011




SOUND OIL PLC

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



ANNOUNCEMENT FOLLOWING THE AGM



The Chairman welcomed shareholders to the AGM and put the various resolutions to the meeting, which were duly passed.



Following the formal part of the meeting the Chairman gave an update of the Company's present activities:



Marciano gas field: the general geographical and technical setting was described together with the procedures of the current testing programme. The testing results are the subject of a separate announcement today.



Montemarciano Farmin: the well planning is in progress and the civil works are to be completed by August 24th. An interim map has been made and this confirms the viability of the Casa Tiberi prospect which should be drilled during 4th quarter 2011.



The Nervesa and Montefano Gas Discoveries have been confirmed by preliminary re-mapping during the seismic acquisition process. An application to drill Nervesa will be submitted to the authorities during July with Montefano to follow.



Badile: the 3D seismic data has been acquired and will be interpreted during July. In the meantime an application to drill will be submitted to the Ministry during July.



The authorities have assured the Company that the applications at Rapagnano and Costa del Sole are in hand and will be awarded shortly.



In Indonesia the Operator signed the Gas Sales and Supply Agreement for the Kerendan Gas Field today with the local electricity utility. A statement about this has been released.



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





This information is provided by RNS
The company news service from the London Stock Exchange

END