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Additional Information
Market: AIM
Sector: Oil & Gas Exploration & Production
EPIC: SOU
Latest Price: 7.88  (0,00%)
52-week High: 14.50
52-week Low: 3.85
Market Cap: 22.65M
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Sound Oil
www.soundoil.co.uk

Sound Oil is an independent oil and gas exploration company, incorporated in England and Wales and listed on the AIM market of the London Stock Exchange. Our strategy is to add significant shareholder value from a portfolio of exploration and production assets. The current project focus is on Italy and Indonesia where we have interests in active exploration and development licences. We aim to grow our portfolio with selective additions of projects in the focus areas and other regions of the world.

Full Sound Oil profile here
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Sound Oil: Ready to resume drilling in new Jatayu sidetrack well

11th Jul 2012, 3:38 am by Jamie Ashcroft

Sound Oil’s (LON:SOU) has got a significant exploration project in the Jatayu prospect in Indonesia, says chief executive Gerry Orbell.

The company has a 20 per cent stake in the project, in the Citrum PSC. And this morning it told investors that drill is ready to resume in the Jatayu-1 sidetrack well.

The sidetrack is located immediately above a gas bearing section and casing has now been installed successfully.

The section is believed to span 390 feet. And analysis of a previous sidetrack showed the interval provided extremely high mud log gas readings and approximately 600 psi overpressure. 

Sound says it will drill through the section and depending on logging results it will either carry on drilling or it stop and test the interval.

"The Jatayu prospect is proving a significant exploration project for Sound,” Orbell said.

“Already we have encountered a gross gas column comparable with some of the larger surrounding fields in a secondary objective above the main target zone. 

“The successful installation of the liner has isolated the problematic section which necessitated the previous sidetrack operations.  The Jatayu well will be followed by exploration wells at Geulis and Cataka on the Citarum permit, all of which will be drilled by the same rig.”

If drilling continues in the Jatayu sidetrack, the aim will be to target the Parigi objective, which is located some 1,700 feet deeper.

Elsewhere in Indonesia, a delayed rig has now been mobilised for work on the Kerendan field, where it will be used for development drilling as well as exploring the West Kerenden area.

“We are pleased that the Kerendan project is now progressing satisfactorily.”

“The operations in central Kalimantan present some challenging logistics and we are very pleased that our operator is now bringing this project to the execution phase."

 

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