Sound Energy shuts down Italian operations

Sound Energy announce on Tuesday it would soon complete operations at its onshore project in Italy, adding that with the rig already disassembled operations to plug and abandon the well would be completed by September.

After disappointing results from the Badile well earlier in the year, the group stated it would be shifting its focus to its North African operations in Morocco after an expansion of its exploration efforts led to the unearthing of new discoveries in the region.

The firm also took the time to announce it would be holding an investor event in London on 5 October that would detail a series of new programmes set to commence in the fourth quarter.

As of 1025 BST, shares had lost 2.17% on the day, down to 42.80p.