Sound Oil Announces Gas Discovery at Casa Tiberi-1 Well

Sound Oil has today announced a gas discovery at its Casa Tiberi-1 exploration well in Ancona, Italy. The well is operated by Sound's wholly owned subsidiary, Apennine Energy srl.

The well has been drilled to a 715 metre measured depth. The company reports that logging has shown a a gross hydrocarbon column of 14.9 m in high quality gas bearing reservoir sands.

The well will now be suspended temporarily to determine the commercial viability and the extent of the accumulation.

Chairman and CEO of Sound Oil Gerry Orbell welcomed the find today.

"We are pleased that the drilling of Casa Tiberi-1 has resulted in a gas discovery from our first operated exploration well in Italy," he said. "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."

The successful drilling ensures that Sound Oil has fulfilled the initial requirements of the Montemarciano Permit, earning the company a 75 percent interest in the licence.

Sound Oil has also announced that its partner in the well, Italian company SARP, has withdrawn from the project, and assigned its 25 percent interest to Apennine. This grants Apennine a 100 percent interest in the project.

SARP still holds the remaining 25 percent stake in the Montemarciano licence.