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 ?

He has been for a while !

nah - rockyhorror is ok; he just hasn't got used to my warped self yet

I have. lol

Investors showed their displeasure on Monday after oil and gas explorer, Solo Oil, said it was struggling to produce oil at one of its Canadian fields.

The firm said its joint venture partner, Reef, was having problems at its Ausable #5 well in South Western Ontario.

Solo said that Reef had indicated that the produced oil "continues to foam with the completion fluids and that as a result it has so far not been possible to establish a representative production rate".

"Reef is exploring alternative pumping strategies and has indicated that they will report further on progress shortly," Solo said in a statement.

Any poor rns in these trading times is off to intensive care.

Or sometimes the mortuary.

i won't take the piss of rocky as there is hardly a stock that hasn't taken a pasting .... that said, it'll be interesting to see what happens to the likes of Solo when london opens on the morrow ..... for sure it (they) will be hammered, and it is also very likely that spreads will be ludicrous and accepted volumes to sell severely truncated

Solo seems to be taking a breather from its share price fall of recent days.
The shares have almost halved in price since May.

I wonder if they are retreating back to April levels (around 0.5p)?

Thursday 04 August, 2011Solo Oil Plc
Update Ausable Field
RNS Number : 7704L
Solo Oil Plc
04 August 2011



Immediate Release, 2.30pm



4 August 2011



Solo Oil plc

('Solo')



Update Ausable Field



Solo Oil plc today announces further progress on the Ausable Field in South Western Ontario by its Joint Venture partner Reef Resources Limited ("Reef").



Reef has released a statement giving a further update on the progress of operations in the Ausable Field where the successful Ausable#5 well is being tested and fishing operations are underway at the Ausable#2 well to recover tools left in the well during previous operations.



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



August 4, 2011 - Calgary, Alberta - Reef Resources Ltd. announces that significant progress is being made on determining the Ausable #5 future flow rate. The presence of very light oil, blended with natural gas condensates, creates foamy oil conditions and consequently the current mechanical bottom hole pumping configuration is operating at very low efficiency causing erratic flow rate and high fluid levels in the wellbore. The Ausable field has now been shut in for a period of time to provide fluid level and pressure build up data that is necessary to determine the Ausable #5 likely flow rate using industry accepted inflow analysis technique and will be reported as soon as all data is processed.

When the likely ultimate flow rate has been estimated Reef will be able to design and execute a plan for long term lifting of the well fluids using revised pumping techniques that will allow the full potential of the well to be realised.

The removal of the frac tools from Ausable # 2 is also progressing. The first stage of tubing cuts have been successfully executed and will now concentrate on extracting the frac tools over the course of the next few days. Once the frac tools are removed the Company will report on the status of Ausable #2.

Arnie Hansen stated, "While still at a preliminary state, Ausable # 5 is looking very positive and the Company's engineering team is working on a solution to increase pumping efficiencies therefore increasing production. This is the first stage of optimization with next goal to acquire and inject natural gas to re-pressure the reef that will significantly increase production and demonstrate the true value of the Ausable pool."



Neil Ritson, Solo Executive Director, commented:

"We are very pleased see that further progress is being made on establishing production at both well #2 and well # 5. We look forward to further updates as the work progresses."



Competent Person's Statement:



The information contained in this announcement has been reviewed and approved by Neil Ritson, Chief Executive Officer and Director for Solo Oil Plc who has 35 years of relevant experience in the oil industry. Mr. Ritson is a member of the Society of Petroleum Engineers, an Active Member of the American Association of Petroleum Geologists and is a Fellow of the Geological Society of London.



For further information:



Solo Oil plc

David Lenigas

Neil Ritson


+44 (0) 20 7440 0642






Beaumont Cornish Limited

Nominated Adviser and Joint Broker

Roland Cornish

Felicity Geidt


+44 (0) 20 7628 3396






Shore Capital

Joint Broker

Pascal Keane

Jerry Keen


+44 (0) 20 7408 4090






Pelham Bell Pottinger

Financial Public Relations

Mark Antelme

Henry Lerwill
+44 (0) 20 7861 3232














This information is provided by RNS
The company news service from the London Stock Exchange

END


DRLDKQDNBBKDQFK


Investegate takes no responsibility for the accuracy of the information within the site

what's happened to rocky?

Whats happening at Solo?, lots of buys coming in....

rocky is MRSI!

Why the jump, anyone??????????????????/

Await news on TSX this aft?

News from reef expected 1.30pm onwards if it comes?

Could it be the ban imposed on short selling imposed by European financial market regulators.????//

the manageress, the shorting bans only on Banks i believe??, but news is due? so could be Monday Reef who's the operator trades on the TSX Canadian stock market..

PROACTIVE NEWS SUMMARY: Solo Oil

Todays news coverage by Proactive Investors included a report on Solo Oil (LON:SOL) which saw its shares rally over 25 per cent or 0.25 pence to 1.23 pence by mid-afternoon. Shares in Solo were driven by speculation on bulletin boards that the company is about to reveal some good news from its Ausable No 5 well onshore Ontario.

On 4 August the company said significant progress was being made by its joint venture partner Reef Resources (CVE:REE) on determining flow rates at Ausable Nos 5 well.

Reef has been seeing variable oil flow volumes at the well.

In the 4 August statement, the company noted that the Ausable field had been shut in for a period of time to provide fluid level and pressure build up data that is necessary to determine Ausable No 5s likely flow rate.

Bulletin boarders today were speculating a positive statement on Ausable No 5 could be put out by the two companies this afternoon or on Monday.

http://t.co/8BbFn1F

RNS Number : 3948N

Solo Oil Plc

01 September 2011

Immediate Release, 7 am

1 September 2011

Solo Oil plc

('Solo')

Operations Update Ausable Field

Solo Oil plc today announces further progress on the Ausable Field in South Western Ontario by its Joint Venture partner Reef Resources Limited ("Reef"). Reef has released a statement giving an update on the progress of operations in the Ausable Field including improved pumping operations and the successful removal of the obstructions for Ausable # 2.

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

August 29, 2011 - Calgary, Alberta - Reef Resources Ltd. (REE - TSX.V) ("Reef" or the "Company") announces that the Company plans to install a hydraulic venturi downhole pump in well Ausable # 5. This proven oilfield technology, replacing conventional bottomhole pumps with venturi units, is currently being installed and tested on the Ausable #1 well. The hydraulic unit is designed to operate efficiently with the light oil and condensate currently being produced from the Ausable reef and will provide optimum production flow rates. It is anticipated that the hydraulic pumping units will also be installed in Ausable # 2 and Ausable # 4 over the course of the next two months.

Following the installation of the venturi pump in Ausable # 5 the Company will be in a position to accurately report production flow rate in addition to production potential with the previously announced Enhanced Oil Recovery (EOR) and cyclic natural gas liquids (NGL's) program. Under the EOR program, reservoir analysis and design work to date indicates re-pressurization of the reservoir will have a significant positive impact on overall field production and recovery factors. Results and updates of the Company's optimization program and implementation of the cyclic gas EOR program will be released once fully operational.

Reef is also pleased to announce that two of the three frac tools from the Ausable #2 horizontal well have been successfully recovered. Approximately 75% of the productive zone is now open. Additional fishing operations are not viewed as cost effective and the Company will be moving forward with wellbore clean up and flow testing. A further announcement will be made once the well is on stream.

Arnie Hansen stated, "We continue to view Ausable # 5 very positively and the Company's engineering and operations team is working diligently to increase production by implementation of the venturi pumping system followed by the re-pressurization of the reef and commissioning of the EOR and NGL program. There are numerous analogous fields where these types of optimization efforts have successfully yielded significant increases in production once in operation."

Neil Ritson, Solo Executive Director, commented:

"Establishing the optimum technologies for sustainable production at Ausable is a major part of the programme and we are pleased that Reef has made some significant advances. The final completion of wells #2 and # 5 and the commencement of EOR operations are both important milestones in our investment and we look forward to a further update shortly."

Competent Person's Statement:

The information contained in this announcement has been reviewed and approved by Neil Ritson, Chief Executive Officer and Director for Solo Oil Plc who has 35 years of relevant experience in the oil industry. Mr. Ritson is a member of the Society of Petroleum Engineers, an Active Member of the American Association of Petroleum Geologists and is a Fellow of the Geological Society of London.