Sound Oil Inks Sales Deal with Shell

Sound Oil, the Mediterranean focused upstream gas company signed a gas sales agreement for the Casa Tonetto production concession,() that includes the Nervesa gas field) with Shell Energy Italia, the local arm of Shell Energy Europe, which is Shell's gas, power and emissions trading entity in Europe.
 
The Agreement follows the recent Casa Tonetto production concession award and includes a pricing mechanism that enables Sound Oil to manage its risk/reward balance.
 
James Parsons, Sound Oil's Chief Executive Officer, commented, "I am very pleased to report the signature of the gas sales agreement, which increases our exposure to Italian gas market and represents the first relationship with the Shell Group".