Kerendan POD Receives Approval from BP Migas

Sound Oil reports that Elnusa Bangkanai Energy, the operator of the Bangkanai Production Sharing Contract, has received approval from BP MIGAS (the Indonesian government agency responsible for the supervision and control of upstream oil and natural gas business activities) for its plan of development ("POD") of the Kerendan area gas reserves, in Kalimantan. Following its recent acquisition of Mitra Energia Limited, Sound Oil has an effective working interest of 34% in the Bangkanai production sharing contract covering the Kerendan gas field.

Commenting on the approval of the POD, Gerry Orbell, Chairman and Chief Executive of Sound Oil, said "this is excellent news and an important step towards the development of the gas reserves that have been identified at Kerendan".


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