Sound Oil (LON:SOU) is to change its name to Sound Energy to reflect the increasing importance of gas in its portfolio.
The company announced yesterday it had signed a gas sales deal for the Nervesa gas field onshore in Italy. The agreement for the Casa Tonetto production concession, which hosts Nervesa, is with Shell Energy Italia.
First production from Nervesa field is expected this year and the new name is more reflective of the company's broadened asset base.
The effective date of the change of name is expected to be 1 October.