Sound Oil gets approval from authorities for Nervesa well
Sound Oil, an Italian focused upstream oil and gas company, has received formal approval from the Treviso Province authorities of the Environmental Impact Assessment for the Nervesa appraisal well.
Sound Oil, an Italian focused upstream oil and gas company, has received formal approval from the Treviso Province authorities of the Environmental Impact Assessment for the Nervesa appraisal well.
The company says it expects final approval from the Italian Ministry of Economic Development will follow in about five weeks. Formal operations at the site will then begin with a view to starting drilling around the end of the year.
James Parsons, Sound Oil's Chief Executive Officer said: "Nervesa is a flagship project for Sound Oil with an independently estimated value approximately equivalent to the Company's current market capitalisation.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"This approval starts the countdown to well spud, which Sound Oil is targeting around the end of the year."
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
- 
Inside a Budget: ex-Treasury minister reveals the chess game behind your tax risesIn an exclusive interview with MoneyWeek former government insider David Gauke says chancellor Rachel Reeves will ‘need to show the richest are making a big contribution’ in the upcoming Autumn Budget
 - 
MoneyWeek celebrates 25 yearsMoneyWeek is 25 and continues to help readers make, keep and spend money every week
 
