Sound Energy PLC Badile: Rig Contract Signature (3579Q)
November 29 2016 - 1:00AM
UK Regulatory
TIDMSOU
RNS Number : 3579Q
Sound Energy PLC
29 November 2016
29 November 2016
Sound Energy plc
("Sound" or the "Company")
Badile: Rig Contract Signature
Sound Energy, the European and African focused upstream gas
company, is pleased to announce that it has signed the contract
securing the drilling rig for its Badile exploration well in
Italy.
Further to the memorandum of understanding signed between the
Company and Pergemine S.p.A ("Pergemine") earlier this year, the
Company is now pleased to announce that it has, on 28 November
2016, entered into a binding agreement with Pergemine for the use
of the 3000 HP EMSCO C3 No.29 rig for the drilling of the Badile
exploration well.
The rig is already in Italy and will be mobilised in January
2017, allowing the Company to proceed with drilling of the Badile
well in the first quarter of 2017.
The terms of the rig will, as previously announced, include the
payment of 23% of the service charges through the issue of new
ordinary shares in the Company with a value of approximately Euro 1
million.
For further information please contact:
Vigo Communications - PR Adviser Tel: +44 (0)20 7830 9700
Patrick d'Ancona
Chris McMahon
Alexandra Roper
Sound Energy j.parsons@soundenergyplc.com
James Parsons, Chief Executive
Officer
Smith & Williamson - Nominated Tel: +44 (0)20 7131 4000
Adviser
Azhic Basirov
David Jones
Ben Jeynes
Cantor Fitzgerald Europe - Broker Tel: +44 (0)20 7894 8896
Sarah Wharry
David Porter
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTBIBDBLBDBGLI
(END) Dow Jones Newswires
November 29, 2016 02:00 ET (07:00 GMT)
Sound Energy (LSE:SOU)
Historical Stock Chart
From Apr 2024 to May 2024
Sound Energy (LSE:SOU)
Historical Stock Chart
From May 2023 to May 2024