Sound Oil Appoints New Director
After its recent equity fund raising, Italy and North Africa-focused junior energy firm Sound Oil reported Thursday that it has appointed Marco Fumagalli of Continental Investment Partners as a non-executive director the company.
Continental acquired a 4.3-percent stake in Sound on July 10 after an equity placing that raised $24 million (GBP 14 million) for the company. Fumafalli, who sits on the board of several companies, and is a 25-percent shareholder of Continental.
Tuesday this week saw Sound announce a "significant upgrade" to the resources at its Santa Maria Goretti gas prospect, onshore Italy.
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