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Josh White Sharecast News
20 Sep, 2016 10:58 20 Sep, 2016 16:40

Sound Energy begins civil works in northern Italy

Europe and Africa-focused upstream company Sound Energy confirmed the commencement of civil works at the Badile exploration well site, onshore Northern Italy, on Tuesday.

FTSE AIM 100

3,528.04

15:45 15/11/24
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FTSE AIM 50

3,958.88

15:45 15/11/24
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FTSE AIM All-Share

728.67

15:45 15/11/24
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Oil & Gas Producers

8,043.72

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1.32%
105.17

Sound Energy

0.72p

10:04 15/11/24
-1.89%
-0.01p

The AIM-traded firm said the rig is expected to be mobilised during Q4 2016 with a view to drilling commencing around the end of the year.

Sound Energy also invited investors to “observe operations” on site through a webcam, which is expected to go-live later this week.

“Following our recent success in Morocco, I am pleased to initiate the countdown to our second ‘Strategic Play’,” said CEO James Parsons.

“Badile is a material gas prospect and one of our largest and most strategic assets.

“I look forward to this opportunity to repeat our success at Tendrara.”

At 1241 BST, shares in Sound Energy were down 3.22% at 93.88p.

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