Sound Oil soars as drilling starts on Geulis exploration well

Shares in Sound Oil, an upstream oil and gas company with assets in Italy and Indonesia, leapt by more than a third on Tuesday after the company told investors drilling has begun on the Geulis-1 exploration well in Indonesia.

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Shares in Sound Oil, an upstream oil and gas company with assets in Italy and Indonesia, leapt by more than a third on Tuesday after the company told investors drilling has begun on the Geulis-1 exploration well in Indonesia.

The firm said the hole will be drilled to a total measured depth of 3,937ft and will target limestone and sandstone reservoirs over a period of 42 days.

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The share price rose 39.09% to 0.77p by 13:21.

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