Sound Oil Announce 2014 Interim Results
Sound Oil, the European / Mediterranean focused upstream oil and gas company, announced its unaudited interim results for the six months ended 30 June 2014. Simon Davies, Chairman of Sound Oil stated, "The first half of 2014, which included a £14 million institutional investment, has been a critical inflection point for the Company. This successful funding transaction which was secured at a significant premium to the prevailing share price, now positions the Company with the funds required to fulfil its immediate drilling priorities. Following this investment, the team and I are pleased to welcome our new cornerstone investor, Continental Investment Partners S.A.
Sound Oil Signs Institutional Investment Agreements
Sound Oil, the Mediterranean focused upstream oil and gas company, announced the successful completion of due diligence and the signing of investment agreements in respect of the £14 million Institutional funding announced by the Company on 25 April 2014 and expected to be completed in July 2014. Continental Investment Partners SA, acting on behalf of itself and affiliates has now successfully completed due diligence and signed the investment agreements, including a 50/50 debt/equity split which results in a total investment of £14 million at an average price of approximately 9.2 pence per share. Metano Capital SA, a subsidiary of Continental Partners SA…
