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.
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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