Mediterranean-focused oil and gas group Sound Oil says it has achieved a successful gas flow from its well test at the Nervesa discovery in Italy.
The Northern Italian site, which was found to have a gross pay of 476m earlier this year, was tested with a 2.7MMscfd, from multiple sandstone intervals.
Sound now believes the Alpine find could contain up to 24billion cubic feet of gas, with a net value of around $66million.
The company, which has agreed a £2.5million bridging loan as it looks to start production on the site for 2015.