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EPIC: SOU
Market: AIM
52-week High/Low: 26.63p / 8.88p
Sector: Energy
Market Cap: 78.26M
Phone: +44 (0)1372 365745
Address: Riverbridge House, Guildford Road, Leatherhead, Surrey KT22 9AD.
Website: www.soundoil.co.uk
Sound Oil

Sound Oil

Sound Oil is a listed, Mediterranean focused, upstream company with a high upside onshore Italian gas portfolio. An experienced, ambitious and action orientated management with strong italian relationships underpin these assets.Sound Oil has two producing assets, is fully funded and is focused on turning its current high upside portfolio into shareholder value. Its programme for the next year includes starting production at the Nervesa gas discovery, drilling the Badile prospect and drilling the Laura and SMG gas discoveries. Sound Oil aims to broaden the portfolio towards a Mediterranean mid cap player within a couple of years.

Deal SOU Tax Free* Losses can exceed
your initial deposit
*subject to change and depends on individual circumstances.

Sound Oil

www.soundoil.co.uk

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Big picture - Why invest in Sound Oil


Sound Oil Snapshot

We are a well-funded Mediterranean exploration and production company, listed on AIM, with an institutional cornerstone investor and strong liquidity.

We have built a high quality, action orientated, team across Milan, Rabat and just outside of London focused on permitting, funding and then delivering a Mediterranean and gas focused drill programme which is balanced in terms of risk and reward.

Our initial strategic focus was our onshore gas portfolio in Italy, which is a healthy blend of high upside exploration, low risk appraisal / development assets and some solid, cost covering, production. Our Italian journey commenced in 2013 with the successful drilling of the first Nervesa well and achievement of first gas at the Rapagnano gas field. In July 2014, we secured first gas at the Casa Tiberi gas field, again demonstrating the Company's ability to mature projects through development and on to production and revenue generation. The journey continues during 2015 with the acquisition and drilling of an asset in Morocco (the Tendrara licence) and achievement of first gas at Nervesa. We are focusing both our financial and human resources on our game-changing assets, including our largest gas prospect, Badile which is the largest and most strategic of our assets with a gross best estimate NPV10 of Euro 486 million. It is our intention to farm out and then drill Badile with a view to capturing the upside NPV, which exceeds US$2 billion, and then move onto Zibido (a twin prospect, world-class in its own right, on the same licence). After having drilled Badile we plan to drill Laura – a long reach deviated well addressing a previously drilled and successfully tested gas discovery 4Km offshore in Southern Italy.

The final step in the journey involves continued expansion into the broader Mediterranean, likely focused on gas and probably achieved through acquisition. This will be combined with consolidation within Italy and Morocco, where possible. We have the skills onboard to originate and execute transformational transactions.

So in summary Sound is a small team focused on "shaping moves" and working to deliver a mid cap regional oil and gas company. The journey is now well underway.

James Parsons
Chief Executive Officer
August 2015

Italy

Producing assets

Rapagnano

More information is avaliable here

 

Montemarciano

More information is avaliable here

For information on alll other Italian assets please click here

 

Morocco

Exploration assets

Tendrara

More information is avaliable here

ANDREW HOCKEY, CHAIRMAN (NON-EXECUTIVE) 

Andrew Hockey has been a non executive director of Sound Oil since May 2011 and has 30 years technical and managerial experience in the upstream oil and gas industry.  Andrew is a co-founder of Fairfield Energy Limited where he is General Manager, Joint Ventures and New Business. Andrew's previous roles include senior positions in Eni, Lasmo, Monument and Petrofina with responsibilities across Italy, Algeria, Tunisia, Morocco, Greece and the UK North Sea. Andrew has a BA Honours in Geology from Oxford University and an MSc in Petroleum Geology from Imperial College, London.

JAMES PARSONS, CHIEF EXECUTIVE OFFICER 

James Parsons has 20 years’ experience in the fields of strategy, management, finance and corporate development in the energy industry.  James Parsons was appointed Chief Executive Officer in October 2012.  

James started his career with the Royal Dutch Shell group in 1994 and spent 12 years with Shell working in Brazil, the Dominican Republic, Scandinavia, Holland and London. Leading up to 2006 (when he left Shell to join Inter Pipeline Fund), James held various positions in Shell's exploration and production business, latterly as Vice President, Finance, of New Business. 

James joined Sound Oil as Chief Financial Officer in 2011 from the European division of Inter Pipeline Fund, a Toronto-listed resources business, where he held the position of Finance and Corporate Development Director of Inter Pipeline Europe. 

James is a qualified accountant and has a BA Honours in Business Economics.

SIMON DAVIES, DIRECTOR (NON-EXECUTIVE) (55)

Simon was appointed as a Non-Executive Director of Sound Oil in February 2014, and has over 30 years experience of investment management. He is also currently Chairman of the JP Morgan Overseas Investment Trust plc, a Non-Executive Director of Grainger plc, and a Director of a number of subsidiaries of Old Mutual Wealth Management Limited. He began his investment career in 1981 with Rothschild Asset Management, and has held various positions in the City of London, including Chairman and Chief Executive of Threadneedle Asset Management Limited, and Chairman of Thames Water Pension Trustees. 

Simon holds various professional and academic qualifications, including a degree in Economics.

GERRY ORBELL, DIRECTOR (NON-EXECUTIVE) (66)

Gerry Orbell retired as Chairman and CEO of Sound Oil in 2012 after founding the company in 2005, and running it for seven years. He was reappointed to the Board as a Non-Executive Director in February 2014. He is a petroleum geologist with over 40 years international experience - including Board positions at Premier Oil and Fina - and is currently Chairman of Antrim Energy Inc, as well a Director on a number of private company Boards.

Gerry holds a PhD in Geology from University College London, and has been a member of the American Association of Petroleum Geologists since 1975.

LUCA MADEDDU , MANAGING DIRECTOR, ITALY

Luca has over 22 years of experience in the upstream oil and gas industry with ENI, the major integrated energy company. Luca is a reservoir geologist by background and has extensive experience in hydrocarbon production, field development, petroleum engineering, supply chain management and reservoir engineering. He has managed large teams in complex operations in sensitive onshore and offshore environments and has worked in Venezuela, Nigeria, Indonesia, UK, Congo and Italy.  Luca is aged 49 and holds a Degree in Geology from Milan University.

LEONARDO SPICCI, BADILE DIRECTOR / DEPUTY MANAGING DIRECTOR, ITALY (50)

Leonardo has over 20 years upstream experience with ENI, Petrobel, KPO and GSA, with extensive experience of working in Italy, Northern Africa, Middle East and Central Asia.

Prior to joining Sound Oil in 2013 he was the District Manager for all Northern Italian Assets at ENI, managing a portfolio of onshore fields, offshore platforms and gas and oil treatment plants.

Leonardo has a BSc in Geological Science and is a Member of the Society of Petroleum Engineers

MARCO FUMAGALLI -DIRCTOR (NON-EXECUTIVE)

Marco Fumagalli joined Sound Oil as a non-executive Director in July 2014. Marco is Managing Partner at Continental Investment Partners SA, a Swiss based fund and cornerstone shareholder in Sound Oil. Marco is a well known Italian businessman who was previously a Group Partner at 3i. Marco is a qualified accountant and holds a degree in Business Administration from the University “Bocconi” of Milan.

Sound Oil

4a Brewery Lane

Bligh's Meadow

Sevenoaks

TN13 1DF

United Kingdom

info@soundoil.co.uk

Tel: +44 (0)1732 606030

 

Apennine Energy Spa

Via Angelo Moro 109

20097 San Donato Milanese

Milan

Italy

Nominated Adviser

Smith & Williamson Corporate Finance Limited

25 Moorgate

London

EC2R 6AY

 

Brokers

Peel Hunt LLP

Moor House

120 London Wall

London

EC2Y 5ET

 

Registrars

Capita Asset Services

The Registry

34 Beckenham Road

Beckenham

Kent BR3 4TU

 

Solicitors

Watson Farley & Williams LLP

15 Appold Street,

London

EC2A 2HB

 

Auditors

Crowe Clark Whitehill LLP

St Bride's House

10 Salisbury Square

London

EC4Y 8EH

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