Badile completes impact assessment

Sound Oil, the Italian oil and gas company, announced in an update on its Badile project that the company had completed the technical work required for the drilling application and Environmental Impact Assessment. Located onshore in the Po Valley in Northern Italy, Badile is an exploration prospect some 45 km south-west from the geologically analogous Malossa gas field (with a cumulative production prior to 1992 of 177 Bscf with associated light condensate). The prospect has independently assessed Low-Best-High prospective resources of 47-175-938 Bscf respectively in Upper Triassic reservoirs. Based on the technical work, the company has also made enhancements to the Badile drilling programme. The target depth has been reduced from 5,300 metres to 4,200 metres targeting only the Upper Triassic ‘Dolomia Conchodon’ reservoir without significantly reducing the likelihood of encountering hydrocarbons. This is expected to result in shorter period for drilling (down from an estimated 164 days to 143 days) resulting in significantly lower costs. An associated reduction in drilling complexity due to lower expected pressures and temperatures is also expected. The company also anticipates an increased likelihood of the occurrence of gas-condensate in the target section. Sound Oil also confirmed that a dedicated team of highly qualified and experienced professionals has been secured for the Badile project and announced the appointment of a high profile ex ENI industry professional as Badile Project Director. This Milan-based role will commence in September 2013 and will form part of Sound Oil’s Executive Team.

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