Sound Oil plc announced that the gas discovery at Marciano-1 ST Well in Italy, is non-commercial

Sound received a reservoir engineering report undertaken by AGR which has analyzed pressure data from the test of the upper zone at Marciano  (1283-1288m) in respect of reserve estimates and reservoir parameters. Unfortunately the initial gas in place in the tested reservoir interval is estimated to be insufficient for commercial production. Sound said that present operations at the site will cease pending a future review of the permit.

At the Montemarciano Permit, an application to commence the site construction for the Casa Tiberi-1 exploration well was submitted to the Ministry of Economic Development on 20 July. Civil works are expected to start before 24 August this year with the intention to spud the well no later than 90 days from the start of site preparation.  Sound has farmed-in Montemarciano Permit and will hold a 75% interest.

Sound has significant interest in Italy throught its January 2011 acquisition 96% of the share capital of the private UK company Consul Oil & Gas Limited. Consul has interests in 17 licences in Italy through its wholly-owned subsidiary Apennine Energy srl, most of which are operated.

Source: Sound Oil