Sound Oil Discussion Thread

Tuesday, Dec 20 2011 by - Sound Oil expects the first well at Cataka to spud prior to the end of 2011.

Despite some delays caused by heavy rainfall, operations on the Cataka-1 well continue and rigging-up of the ETP Rig No.2 on the site has commenced. The well is scheduled to take 21 days to drill.

Cataka-1 will be drilled as a deviated well to a total measured depth of 6995 ft (2132 m) to target P50 gross prospective resources of 470 Bscf. Immediately after Cataka the rig will move to drill the Jatayu and Geulis prospects.

The operator, Salamander Energy, has informed Sound Oil that an upgrade of the Drillco No.1 rig for high temperature/high pressure operations is underway with the rig now expected to mobilise to Kalimantan in January and drilling expected to commence in April 2012. The development of the Kerendan gas field, however, remains on target.

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Sound Energy plc is a Mediterranean upstream company. The principal activity of the Company and its subsidiaries is the exploration, appraisal and development to production as an operator in the oil and gas industry. Its principal activity is in Italy and Morocco. It operates through three segments: corporate; exploration and appraisal, and development and production. Its Tendrara permit is located in the Figuig Province, NorthEast Morocco. The Tendrara permit area, which is sub-divided into over eight blocks, covers a combined area of approximately 14,500 square kilometers. The Meridja permit is located next to its Tendrara license, and covers an area of over 9,000 square kilometers. The Sidi Moktar permit is located in the Essaouira Basin in central Morocco and is sub-divided into over three blocks (North, South and West). The Badile Permit is situated in the Piedmont Lombard Basin in northern Italy. Its Rapagnano Gas Field concession is located in Fermo Province, Marche Region. more »

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8 Posts on this Thread show/hide all

Charles Lambert 17th May '12 1 of 8

Sounds current drill in Indonesia should be close to news

Citarum PSC, Java (Sound Oil 20%)

The Jatayu-1 exploration well commenced drilling at 21:30 local time on 21 March 2012. The well will be drilled to a total measured depth of 8714 ft (2656 m) to target the limestones of the Miocene Parigi Formation. Operations are scheduled to continue for 30 days.

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Isaac 18th May '12 3 of 8

Heads up!

SOU is up 15% today, no news yet but the Jatayu-1 exploration well news is well overdue. It is worth almost 1p to the share price.

May 11 2012

Sound Oil (LON:SOU) was among the most searched for UK stocks on Google Finance today along with blue chips BT (LON:BT.A) and Experian (LON:EXPN). Interest in the oil and gas junior was sparked by its operations in Indonesia, where operator Pan Orient Energy is currently drilling the Jatayu-1 exploration well, targeting the limestones of the Miocene Parigi formation.

The prospect has been estimated to have gross P90-P50-P10 prospective gas resources of 140-290-530 billion cubic feet respectively.

The Jatayu well will be followed by exploration wells at Cataka and Geulis on the Citarum permit, all of which will be drilled by the same rig.

In its most recent operational update, Sound told investors that Pan Orient had drilled the top-hole section and the well would be deviated towards the main target.

On message boards, investors speculated that the company was due to report on the well next week.

Loads of exciting drilling to come for Sound

-Cataka in May
-Kerenden in June
-Geulis in July
-Nervesa in August
-Ropagnano in August
-Strombone in December
-Kerenden deep in Q1 2013

All worth about 10p to the share price i.e. 10 bagger!

Pan Orient Energy Corp have a good track record with drilling, one of the reasons why I think this is a good risk:reward investment.

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Isaac 10th Jul '12 4 of 8

Looking good....

Operations Update - Indonesia

Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, is pleased to announce the following update on its operations in Indonesia.

Citarum PSC, Java (Sound Oil 20%)

The Operator of the Citarum block has released a detailed update on the Jatayu-1 exploration well. A 7" casing has been successfully installed in the present sidetrack immediately above the gas-bearing section encountered in a previous sidetrack where some 390 feet of gross gas-bearing section has been recognized below 5530 ft TVD (true vertical depth). This interval displayed extremely high mud log gas readings and approximately 600 psi overpressure. Gas shows were still present at the bottom of the previous sidetrack at approximately 5920 ft TVD, when the drill-pipe stuck. This required the present sidetrack to be drilled. It is the intention now to drill ahead below the casing to approximately 6000 ft TVD and obtain wireline logs over the section of interest. Dependent on logging results a decision will be taken as to whether to target the Parigi objective, some 1700 feet deeper, or to stop drilling and test the well.

Bangkanai PSC, Java (Sound Oil 5%)

The Operator has reported to partners that mobilization of the drilling rig for the Kerendan field development and West Kerendan exploration well is ongoing following some minor delays in shipping the equipment along the Barito River to the Luwe Hulu staging area in Kalimantan. The rig is now 40% rigged-up and operations are expected to start in August.

Gerry Orbell, Sound Oil's Chairman and Chief Executive commented:

"The Jatayu prospect is proving a significant exploration project for Sound. 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.

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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emptyend 9th Oct '12 5 of 8

I'm interested to see that Sound Oil (LON:SOU) has been on a real tear recently - up by 150% since 20th September, having spent a couple of months in the doldrums. Sure there have been a couple of good news items recently (including a well spud in Indonesia and a production restart plan in Italy) - but the move seems pretty large and rapid?

Market cap now c. £30mn after the rise - so perhaps it is more a reflection of having been "unfairly" beaten down than of some corporate action in the wings, which had been my first thought.

Note that the shares have only recovered to the bottom edges of the price range that applied when the above posts were made in May and presumably plenty of bulls must have fled in the meantime?

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Isaac 9th Oct '12 6 of 8

so presumably plenty of bulls must have fled in the meantime?


Nah....I'm still around waiting to recoup my losses. Interesting to see how it all turned around though. Just goes to show markets are driven by sentiment and doing nothing most of the time is the way to play the markets and selling during times of excessive bullishness and buying during the pessimism is the way to make money.

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Isaac 12th Oct '12 7 of 8

Sold at 1.42 - Time will tell if I am wrong.

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djpreston 12th Oct '12 8 of 8

And Mohamed Fayed picks up 3.01%

Fund Management: European Wealth
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