Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, refers shareholders to the following extract from an announcement released on 24 November 2011 by Pan Orient Energy Corp., the operator of the Citarum PSC located on Java, Indonesia in which Sound Oil has a 20% interest:
"At the Citarum PSC on-shore Java (Pan Orient operator and 77% ownership), one location (Jatayu-1) has been completed and a second location (Cataka-1) is approximately 90% complete after having experienced some delay as a result of annual monsoon rains. Surface casing has been set on both wells utilizing a service rig and drilling rig mobilization on to the Cataka-1 location is planned to commence on November 26th with drilling to commence in early to mid-December. Construction on the third location of Geulis-1 will commence shortly after the completion of construction on Cataka-1. All three wells are planned to be drilled back to back starting with Cataka-1 in the first half of December 2011."
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