Sound Oil has signed gas sales agreement with Shell Energy Europe for the Casa Tonetto production concession, which includes the Nervesa gas field.

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”