Sound Oil is pleased to announce the following management changes:
•Luca Madeddu, an existing director of the Company and currently Managing Director Italy will assume the role of Managing Director Morocco. Luca will relocate to Rabat and head a small but expert team in preparation for Sound Oil's operatorship and development of the Tendrara licence.
•Leonardo Spicci, currently Deputy Managing Director Italy will assume the role of Managing Director Italy.
The Company will now initiate a search for a replacement Deputy Managing Director in Italy.
James Parsons, Sound Oil's Chief Executive Officer, commented,'Our Moroccan country entry is the first transformational transaction in pursuit of our Mediterranean gas strategy.
In anticipation of our operations on the Tendrara licence, with its multiple Tcf potential, and further growth in Morocco, I am very pleased to report that Luca has accepted this opportunity to lead our team in Rabat. This enables us to retain the balance of our tight knit executive team whilst managing our broader portfolio and leveraging off our Milan based technical hub.'