Solo Oil plans to acquire a diverse portfolio of direct and indirect interests in exploration, development and production oil and gas assets which are based in the Americas, Europe or Africa. Both on-shore and off-shore interests will be considered. The intention is to acquire a widely distributed mix of oil and gas development and production assets.



Last Analyst Report covering Tanzania



ISIS Petroleum Consultants has attributed 5.75 TCF of total mean unrisked gas in place for the identified leads, prospects and discoveries on the Ruvuma PSA (Solo: 25%). This represents very exciting progress for the company and the additional detail available from ISIS’ report has enabled us to upgrade our valuation of Solo’s interest in Ruvuma.

• On 27 June, the Ntorya-1 discovery (Solo: 25%) flowed gas at 20.1 mmcfpd and 140 bpd of condensate from the Lower Cretaceous sands. Based on the well data combined with seismic mapping, ISIS has attributed discovered gas initially in place (GIIP) of 178 BCF with a P10 upside of 284 BCF. Up-dip potential for the Ntorya-1 prospect defined by seismic mapping adds a further undiscovered mean GIIP of 990 BCF.

• Located further up-dip to the west of Ntorya, in a separate channel fill complex, is the Namisange lead which has been attributed with a potential unrisked undiscovered mean GIIP of 2.62 TCF. A seismic infill programme is planned for later in 2012 to better image the Ntorya area and the Namisange lead.

• North of Ntorya, seismic mapping has identified up-dip potential in the Lower Tertiary sandstone penetrated by the Likonde-1 well in 2010. To this lead, ISIS has assigned a mean unrisked undiscovered GIIP of 504 BCF. Further north, towards the coast, the Sudi lead has also been re-mapped and attributed GIIP of 436 BCF.

• In addition to these leads, the ISI report also recognises additional potential in the Karoo section in the northern part of Ruvuma which has the potential for oil as demonstrated by the Lukeledi-1 well drilled in 1992.However, this potential has not yet been quantified due to lack of seismic control.

• Nevertheless, remapping of the offshore section of the Ruvuma PSA, representing approximately 20% of the licence area has highlighted a prominent channel fill complex called Kiswa at the Base Tertiary Unconformity level and to which ISIS has attributed unrisked undiscovered mean GIIP of 709 BCF.

Solo will now participate in further seismic acquisition in order to appraise the Ntorya-1 discovery and upgrade the highest potential leads to drillable status. Solo will also seek an additional partner in order to participate in the next phase of exploration which will consist of at least two exploration wells. On the basis of ISIS’ findings, we have increased our valuation of Solo’s interest in the Ruvuma PSA from 0.95p to 1.6p per share. Consequently, out fully diluted share price target for Solo is upgraded from 1.5p to 2.0p.


Last Company Update on the Farmout

RNS - 29th Jan 2013

Solo today announces that due to the considerable level of interest being expressed in the farm-out of its Ruvuma PSA in Tanzania the deadline for the receipt of bids has been extended until March 2013.


Neil Ritson, Solo Executive Director commented:


"The level of interest has been very significant and it has not been possible to accommodate all the interested parties in the physical data-room prior to the original bid deadline. Several companies have asked for the deadline to be extended in order to allow them to complete their evaluation and we have therefore agreed with Aminex and FirstEnergy Capital LLP to accept bids up until early March."

Solo Oil - Acquisition of Buri Africa shares
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EXCLUSIVE: Solo Oil chairman says Horse Hill media comments ‘misleading’
Wed, 29th Apr 2015

Neil Ritson, Solo Oil’s (LON:SOLO) chairman tells Proactive Investors some of the comments in the national media about the Horse Hill project approvals are ‘misleading’. ‘The project is moving forward,’ Ritson explains. ‘We’re waiting for some consents, but we’re always waiting for consents; it’s a hugely complicated regulatory environment in which we operate and we’re rigorous in pursuing that in the right order and at the right time.’ Ritson also discusses today’s deal for a stake in Burj Petroleum Africa, which opens the door to marginal fields in Nigeria. He also talks about the importance of securing a partner such as Global Oil and Gas, run by InterOil founder Phil Mucalek.

Http://www.stocktube.com/video/exclusive-solo-oil-chairman-says-horse

Is Now The Perfect Time To Buy These 3 Oil Stocks? Premier Oil PLC, Solo Oil PLC And Ithaca Energy Inc. - Peter Stephens - Wednesday, 6 May, 2015

While the price of oil is still just over $60 per barrel, it has risen by around 30% since its lows earlier on in the year. Of course, it is still just over half the level at which is stood less than a year ago but, while it could resume its downward trend, the prospects of oil at less than $40 per barrel seems less likely than they were a couple of months ago.
Of course, oil producers such as Premier Oil (LSE: PMO) have been hit hard, with it reporting impairments to its asset base and falling into loss-making…....

Is Now The Perfect Time To Buy These 3 Oil Stocks? Premier Oil PLC, Solo Oil PLC And Ithaca Energy

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