News listings
Bayphase Oct 2017

energy-pedia exploration

Italy flagItaly

Europe / Caspian / CIS >>> Italy

Italy: Sound Oil preparing to drill CasaTiberi-1 in the Montemarciano permit

22 Aug 2011

Photo - see caption

Sound Oil has announced that its subsidiary Apennine Energy commenced civil engineering works on 18 August at the drilling site for the farm-in exploration well, Casa Tiberi-1, at the Montemarciano permit (75% Sound Oil interest). Drilling operations are expected to commence in the next 90 days and the budgeted cost of the well to the Company is US$1.5 million.

Commenting on the above, Gerry Orbell, Sound Oil's Chairman and Chief Executive said: 'Casa Tiberi-1 is the first well that we shall be drilling as operator. The competent person estimated the risk of finding hydrocarbons to be 35% which is relatively low for an exploration well. If successful, the most likely worth to Sound is approx. US$12 million based on the present evidence but I am hoping for the upside which could be worth US$37 million.'

Photo - see caption


1. The Casa Tiberi-1 well site is located in the Falconara Marittima Comune, in the Province of Ancona in the Marche Region of Italy.

2. As previously announced, a competent persons report produced by Fugro Robertson estimated a 35% chance of success and base case (P50) prospective recoverable resources of 5.7 Bscf at the Casa Tiberi prospect with an estimated value to Sound Oil of US$11.6 million (NPV10 success case basis). For the upside (P10) case their estimate is 14.9 Bscf (NPV10 US$37.1 million) and for the low side (P90) case, 2.2 Bscf (NPV10 US$2.1 million). Click here for the Montemarciano competent persons report.

Original article link

Source: Sound Oil

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Publicly Available Deals

See all deals...

Subscriber Only Deals

Current deals: 1658
Completed deals: 4717

Company Profiles

Current Company Profiles: 2531

Corporate Activity

Current Corporate Activity articles: 2961

Companies Looking

Current number of articles: 417

Company Sales

Current Company Sales articles:1189


Current Geostudies articles: 530

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Government of South Australia
EP Consult Energies
Union Jack Oil 149
SLR Consulting logo
count geophysics
RSK Logo 149
KL Publishing
Rose & Assocs 149
Lynx Information Systems
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675