Sound Oil plans three new wells

Independent oil and gas company Sound Oil hailed its most successful year yesterday despite significantly widening its losses at the end of 2010 to £15.9m from £2.9m the previous year, fuelled by a £14.2m loss on the write down of the Bangkanai asset in Indonesia. However, the company plans to work up a number of explorations with a view to operating three wells in the next 18 months.