Sound Oil H1 loss narrows; says suspended Pasundan well due for testing in Nov
07-OCT-2008 Intellasia | Thomson Financial
Oct 7, 2008 - 7:00:00 AM
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Sound Oil Plc (LSE: SOU.L - news) . posted a narrower first-half loss and said the suspended Pasundan well is due for testing in November (Frankfurt: A0S9N7 - news) .
The upstream oil and gas company, with assets in Indonesia, added it is finalising details of an agreement to establish a joint operating company in relation to the Bangkanai PSC. It is in the process of farming-out some of its 34.99 percent interest in the Bangkanai licence.
For the six months to June 30, 2008, Sound Oil's pretax loss narrowed to 726,000 pounds from 885,000 pounds a year earlier while exploration costs fell to 293,000 pounds from 307,000 pounds.
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