Sound Oil (LON:SOU) is to proceed with the testing phase of the latest appraisal of the Nervesa project, in Italy, after a well encountered a number of gas bearing intervals.
The well was the second appraisal of the gas field, and it was drilled to drilled to a depth of 2,054 metres.
Logging operations have now been completed. The results confirm the presence of various gas bearing levels and the company will now complete the well prior to a phase of well testing.
Nervesa was successfully drilled in 2013. The company has previously estimated the project’s net value at US$66mln.