Some interesting detail on our Italian gas interests which is what will make this company, and the news that Mohammed Al-Fayed, the former owner of Harrods has bought a 3% stake through his investment company sent the SP upwards today - some takeover speculation, and the CEO Gerry Orbell has retired so new blood in charge.  You'll have seen the SP heading north of late.

Re Citarum, Guelis is ten days in with another 20 to TD, then another 10-12 days testing, so news prob mid November.  It's a vertical drill with no complex geology, unlike Jataya.  Speaking of which, we thought the service rig was merrily drilling away through the slim-hole, but no, apparently the rig isn't due for a month or two yet as far as Sound BOD know.  If eventually significant HCs are found, the hole is too narow for commercial production, so another well would be drilled, no doubt having learnt a lot from the first attempt.

Would not surprise me if SOUND wanted to sell out their 20% to POE to focus all thier resources on 3 big ventures in Italy, just my opinion.

 

MM