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Sound Oil announces reopening of offshore Italy D150 and D148 permit applications

LONDON -- Sound Oil has announced that it has been advised by the Italian Ministry of Economic Development that it has immediately reopened the Company' s applications for two of its offshore permits D150DR-CS containing the Laura gas discovery and d148DR-CS, both located in the Gulf of Taranto, southern Italy.

These two permit applications had previously been withdrawn by the Ministry in August 2011 in compliance with the environmental decree 128/2010 enacted in June 2010 which was preventing oil and gas activity within a 5 nautical mile radius of the Italian coast.  A new Law 134/2012 gazetted in August 2012 reverses this previous restriction.

11/15/2012

 

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