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Sound Oil announce a significant upgrade in the Net Present Value of the Badile exploration gas prospect


Published Oct 9, 2013
Sound Oil enters production sharing contract in Indonesia

Sound Oil is pleased to announce a significant upgrade in the Net Present Value of the Badile exploration gas prospect, onshore Po Valley, Italy.

ERC Equipoise Limited ("ERC") have completed a full independent Competent Person's Report (CPR) of this prospect.

Badile is Sound Oil's 100% owned and operated exploration prospect, located some 45 km south-west of the geologically analogous "Malossa" gas field - which produced a total of 177 Bscf gas with associated light condensate.

The CPR has confirmed a Best estimate NPV10 of Euro 486 million, an increase of 60% on the previous CPR (which was Euro 302 million). The CPR has also identified a High Case NPV10 of Euro 1,745 million and a Low Case NPV10 of Euro 101 million.

Underpinning these estimates are gross prospective resources of 178bscf equivalent (106 Bscf of gas plus 12 MMbbl of condensate) with a High Case estimate of 673bscfe (397 Bscf of gas plus 46 MMbbl of condensate) and a Low Case estimate of 46bscfe (28 Bscf of gas plus 3 MMbbl of condensate). The study has also confirmed a 22% geological chance of success for the prospect.

Tags: Sound




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