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Sound Energy remains confident of securing permission for Badile

The company continue to have “positive dialogue” with the Italian authorities and that no objections have been raised regarding the project.

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More technical information was requested during a meeting today.

Sound Energy (LON:SOU) has told investors it remains confident that the ongoing permitting process for the Badile project will reach a successful conclusion.

The company, in a stock market statement, this afternoon provided an update following a meeting with the Italian Ministry of Economic Development which was hosted to discuss the final permission for the project.

It said there was “positive dialogue” and that no objections have been raised regarding the project.

The authorities have, however, requested additional technical information which the company now intends to submit shortly, before another meeting is held.

Badile, located onshore in the northwest of Italy, is located nearby to ENI Gaggiano oil field and it is estimated to host some 400mln barrels of oil equivalent resources. The plan is to drill an exploration well.

Sound Energy has a 100% interest in the project.

Quick facts: Sound Energy PLC

Price: 1.429 GBX

AIM:SOU
Market: AIM
Market Cap: £16.6 m
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