8 January 2013
Sound Oil plc
("Sound Oil" or "the Company")
Rapagnano Final Test Results
Sound Oil, the Italian focused upstream oil and gas company is pleased to confirm a successful full production test of the Sabbie reservoir at the Rapagnano field in Italy.
The reservoir was tested for two three-hour drawdown periods. The first period on 1/8" choke established a commercial stabilized rate of 9,500 Scmd (0.34 MMscfd) with a flowing well head pressure of 79.2 Bar (1148 psi). No water was produced during the test. The second period on 3/16" choke confirmed an increased stabilized rate of 13,600 Scmd (0.48 MMscfd) with a flowing well head pressure of 44.5 Bar (645 psi). The well is now shut in for a final build up period of twelve hours prior to retrieval of down-hole pressure gauges.
All the rate and pressure data obtained from the flow periods were consistent with the Company's reservoir model for production of 1.3 Bscf from the field.
James Parsons, Sound Oil's Chief Executive Officer, commented:
"I am pleased with the successful production test, which confirms our view that Sound Oil will be a gas producer very shortly.
The Company will now focus on preparations for the forthcoming Nervesa appraisal well."
For further information please contact:
Sound Oil James Parsons, Chief Executive Officer |
[email protected] |
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones |
Tel: +44 (0)20 7131 4000 |
Westhouse Securities - Broker Antonio Bossi Jonathan Haines |
Tel: +44 (0)20 7601 6100 |
Buchanan - Financial PR Tim Thompson Helen Chan Tom Hufton |
Tel: +44 (0)20 7466 5000 |
Notes:
1. The information contained in this announcement has been reviewed by Sound Oil's Chief Operating Officer, Dr M. J. Cope BSc PhD CGeol FGS, a qualified petroleum geologist.
2. Units of flow are expressed as follows: MMscfd means millions of standard cubic feet of gas per day; Scmd means standard cubic meters of gas per day. Units of pressure are expressed in pounds per square inch (psi; 14.5 psi = 1 Bar).
3. Bscf means billions of standard cubic feet of gas.
