From the Financial Times this weekend

Solo Oil , which is chaired by David Lenigas, rose 15.4 per cent to 0.75p on talk it was close to announcing its first deal.

I'm on board this morning..good story developing here (imho) ... onwards and upwards... anyone else in ?

Likonde-1 exploration well result

1 April 2010 Solo Oil Plc ("Solo") advises the following update made today by
Tullow Oil PLC and Aminex PLC ("Aminex") on the Likonde-1 well in Tanzania.

"I April 2010 - Tullow Oil plc (Tullow) announces that the Likonde-1 well,
onshore Tanzania, has encountered thick sands with hydrocarbon shows.

Likonde-1 is located in the Lindi Block in the Ruvuma Basin of Southern
Tanzania. The well has been drilled to a total depth of 3,647 metres and results
of drilling, wireline logs and side-wall coring have shown that the well has
intersected two sandstone intervals of over 250 metres (820 feet) combined
thickness with evidence of residual oil and gas. Drilling had to be terminated
in the deepest objectives due to high gas influx.


The well, which is now being plugged and abandoned, is the first of a two-well
programme within the prospective Ruvuma delta region. The encouraging results
will be followed up with detailed technical work prior to selecting the next
drilling location.

Tullow (50%) operates the Lindi and Mtwara blocks in partnership with Aminex
Solo Oil is earning an interest through farming into 12.5% of Aminex's 50%
interest in the well and has an option to elect to become a full joint venture
partner. If Solo exercises its option, Aminex's interest in the Ruvuma Licence
will be reduced to 37.5%.

Commenting today, Angus McCoss, Tullow's Exploration Director, said:
"Likonde-1 is an encouraging well with follow-up exploration potential. The
valuable technical insights gained are now being incorporated into our regional
geological model to further evaluate this promising basin in Southern
Tanzania.""


Solo's Chairman David Lenigas commented:
"The completion of Likonde-1 and the results obtained from the Company's first
wildcat well in Africa represents a major step forward in establishing the
potential of the Ruvuma Basin. Solo has the option of becoming a full joint
venture partner with 12.5% of the entire 12,360 sq kilometre Ruvuma Licences by
committing to the second well."


Looks like a lot of panic selling
cyril

On the face of it not brilliant news but it's not a total disaster and the selling is overdone....could be a time to pick up some more at this low level (imho)

You have to be kidding....this is the wrong one to be in...TLW are up....and watch Aminex's sp recover...but not this one....

think the men in white coats would be paying you a visit RF if you had a shed load of these as well as DES.... lol

Zero Solo....but loads of Aminex....sp recovering now...told you so...

Usual pattern panic at 1st with a large drop and then recovering some of the losses.Similar with DES and those with the balls could have made a nice short term profit.
cyril

ho god we are fkuced

Like I said...this is not the one to be in....it's not a bad result because the second well is going to be drilled, probably sooner than we think, but this is a one trick poney with no funds....far too risky !.

read post 420 on AEX thread---all is not lost!

No...but in this one there is a long wait...can't believe you lot are in this when Aminex has most of the potential.

Solo Oil could go So high ...... It is today

.

Worth a read :

http://boards.fool.co.uk/solo-oil-halves-option-exercise-price-12104125.aspx

.

I'm still in these from a while back although I did sell over half my outlay a few months back to put into RRR which paid back handsome gains,

Here's hoping that 2011 will be the year that we see some good progress with this one!

.

Yep, it's looking good!

RNS Number : 9324A

Solo Oil Plc

09 February 2011

For Immediate Release

9th February 2011

SOLO OIL PLC

("Solo" or the "Company")

Update: Drilling by Reef Resources, Canada

Solo Oil plc, the AIM listed International Oil and Gas Exploration and Development Company, today announces the spudding of the Ausable#5 well in South Western Ontario by its Joint Venture partner Reef Resources Limited ("Reef").

Reef's announcement; to the Toronto exchange, reads:

Reef Resources Ltd. (REE - TSX.V) ("Reef" or the "Company") reports spud of its Ausable # 5 well on February 8, 2011. Drilling and coring will continue over the next three weeks with completion expected before break up.

The well will be cored and data used to develop the Company's gas storage asset and assist in determining horizontal drilling locations and trajectories for the first phase of the Natural Gas Recycling and Enhanced Oil Recovery ("EOR") program. The Ausable reef is currently on production and is generating revenue from the initial Enhanced Oil Recovery Natural Gas Recycling program which commenced in 4th qtr 2010.

Once Ausable #5 is completed the drilling rig will recover the stage frac tools that have delayed production from the Ausable # 2 horizontal well.

Solo Executive Director Neil Ritson commented; "We are delighted that Reef have been able to commence these key operations which will contribute to both production and the necessary knowledge to embark on the EOR scheme which is at the heart of this project."

Enquiries:

Solo Oil plc

cool! shaping up nicely!

Solo appears to be forming a pennant.

Excuse the ignorance, but is that good?