17th Mar 2015 08:29
LONDON (Alliance News) - Oil and gas company Sound Oil PLC saw its shares rise early Tuesday after it said it has received regional environmental approval for the Badile exploration well.
The Lombardy Regional Government has approved the company's Environmental Impact Assessment for the well and Sound Oil said it expects approval from the Italian Ministry of Economic Development to follow soon.
"This approval re-affirms Sound's ability to progress within the Italian regulatory system and positions the asset ready for potential farm in partners." said Chief Executive Officer James Parsons.
Shares in Sound Oil were up 7.1% to 15.79 pence in early trade, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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