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 ?

Update on Horse Hill Prospect, UK

Solo Oil Plc (AIM: SOLO) today announces that Horse Hill Developments Ltd ("HHDL") received formal notification from the UK Department of Energy and Climate Change ("DECC") on 17 July 2014 that:

· The Secretary of State has granted the transfer and apportionment of rights of 65% of Licence PEDL 137 from Magellan Petroleum (UK) Limited to HHDL.
· The Secretary of State has granted approval to the appointment of HHDL as Exploration Operator of Licence PEDL 137.

These approvals and consents granted by the DECC are valid until 17 October 2014, to enable HHDL to meet its obligation under the agreements in place between HHDL and Magellan Petroleum (UK) Limited to drill the Horse Hill-1 well on Licence PEDL 137.

Solo has a binding agreement in place to own a 10% interest in Horse Hill Development Ltd ("HHDL"), a special purpose company, which owns a 65% participating interest and operatorship of onshore licence PEDL137 in the UK Weald Basin.

The participants in the Horse Hill-1 well are HHDL (Operator) with a 65% working interest and Magellan Petroleum Corporation with a 35% interest.

Neil Ritson, the Companies Executive Director, commented: "We are delighted that the process of consents necessary to drill the Horse Hill-1 well are progressing well and that site preparation is on track for spudding shortly."

Update on Horse Hill

Solo Oil Plc (AIM: SOLO) today announces that the operator, Horse Hill Developments Ltd ("HHDL"), has now been granted final approvals from the UK Environment Agency to proceed with the drilling of the Horse Hill -1 well at Horse Hill in Surrey.

Solo has a binding agreement in place to own a 10% interest in HHDL, a special purpose company, which in turn owns a 65% participating interest and operatorship of onshore licence PEDL137 in the UK Weald Basin.

Neil Ritson, the Solo's Executive Director, commented:
"Recent heavy rainfall in the area has delayed the completion of site construction works, however, the concrete cellar is on-site and is ready to install once the ground conditions allow. We are therefore looking forward to spudding of this important Horse Hill-1 well shortly."

The participants in the Horse Hill-1 well are HHDL (Operator) with a 65% working interest and Magellan Petroleum Corporation with a 35% interest.

WATCH: Solo Oil - Horse Hill Site

Click here to watch

Drilling Commenced, Horse Hill-1, Weald Basin UK

Solo Oil Plc (AIM: SOLO) is pleased to announce that drilling operations on the Horse Hill-1 well have now commenced.

The Horse Hill-1 well in the onshore UK Weald Basin is planned to be drilled to a Total Depth of 2,646 metres (8,680 feet) and is designed to test a number of conventional stacked oil targets in the Jurassic in the proven productive Portland sandstone, Corallian sandstone and Great Oolite limestone formations, as well as a deeper conventional gas target in the Triassic.

Solo has a binding agreement in place to own a 10% interest in Horse Hill Development Ltd ("HHDL"), a special purpose company, which owns a 65% participating interest and operatorship of onshore licence PEDL137 in the UK Weald Basin. HHDL is the drilling operator.

Another good day with volume.

Upgraded Ntorya-1 reserves, Tanzania

Solo today announces that it has been informed by the operator that recent interpretation of the recently acquired seismic data has increased the gas in place in the Ntorya-1 discovery to 1.9 trillion cubic feet ("tcf"), an increase of 70%.


more..

Additional Update, Ruvuma Basin Resources

Solo today announces that it has been informed by the operator that the interpretation of the newly acquired seismic data has extended the potential of the Ntorya appraisal area, and has further upgraded the mean gas in place resource estimate to 2.3 tcf, by joining the Ntorya discovery with the adjacent Likonde prospect in the Ruvuma Petroleum Sharing Contract ("PSC") in onshore southern Tanzania.

A penny touched.

Up another 35% @1.14p

Very nice! Wish I hadn't switched the majority of my holding into UKOG now! :o(

what a good buy in sp!

Update, Horse Hill-1, Weald Basin UK


Solo Oil Plc (AIM: SOLO) today confirms that drilling operations on the Horse Hill-1 well are continuing as planned with the 20-inch surface casing having been set successfully at 84 feet below ground level. Operations are continuing at the site and further news will be issued as appropriate.

The Company is also pleased to confirm that Magellan Petroleum Corporation ("Magellan") have now confirmed that they will not proceed with their option to acquire additional logs beyond those required for the conventional targets in the Horse Hill-1 well. This will assist Horse Hill Developments Ltd ("HHDL") to complete the well on schedule in about six weeks.

Additionally, the original binding agreements previously put in place for Solo to own a 10% interest in HHDL have been converted to a definitive Investment Agreement confirming the Company owns 10% of HHDL. David Lenigas, the Chairman of Solo, has also been appointed as Chairman of HHDL.

Drilling operations on the Horse Hill-1 well are continuing successfully and the Marriott 50 rig is now drilling ahead at a depth of 116 feet measured depth ("MD") today at 12:00 hours. Current rate of drill penetration is about 30 feet an hour.

I reckon they should be in Australia by Christmas Day! :o)

Which Christmas? :-)

It depends on whether or not the middle of the earth is hollow skinny! :o)

Well as is well known, it used to be filled with chocolate, but due to the hole at each pole, it all leaked out - so it could well be hollow!

:-)

Black Magic chocolate?! Lol!

$5m debt facility and £2.26m placing

Solo Oil Plc (AIM: SOLO) announces a that it has drawn down the first US$1 million of a US$5 million 3-year debt facility secured today, and has closed a Placing of £760,000 at 0.95 pence per share and a conditional Placing of £1.5 million at 0.95 pence per share which relates to a Placing and an Equity Swap Agreement with YA Global Master SPV, Ltd. ("YAGM"). YAGM has agreed with the Company that they will not dispose of any shares acquired under their agreement for an initial 2 month period.

Drilling Update, Horse Hill-1, Weald Basin UK


Solo Oil plc (AIM: SOLO) today advises that the Horse Hill-1 well has now been drilled to the second casing point at a depth of 1,795 feet measured depth ("MD"), and the setting and cementing a 13 3/8-inch steel casing is now underway. The bottom of the well is currently located in the upper part of the Jurassic and the operator reports that the well has encountered the expected mud gas up to C3 (propane) and mineral fluorescence just above current well depth.

Based on observed geological analysis and mud logging from rock cuttings circulated out of the hole indicate that geological markers in the well are slightly shallower than initially expected based on seismic and the nearby Collendean-1 well drilled by Esso in 1964. As a consequence the second casing point has been revised up from 1,865 feet MD to reflect this change.

The Horse Hill-1 well is located on the northern side of UK Weald Basin near Gatwick Airport and is planned to drill to a Total Depth ("TD") of 8,680 feet measured depth ("MD") to test a number of conventional oil and gas targets. The primary oil reservoir targets in this well lie in the Jurassic Portland Sandstone at about 2,200 feet true vertical depth below sea level ("TVD ss") and the Corallian Sandstone at about 3,440 feet TVD ss. There are also a number of secondary oil targets in the Jurassic aged formations, including the Great Oolite Limestone, estimated to be at 4,530 feet TVD ss.

After setting the 13 3/8-inch casing the well will be drilled in 12 ½-inch hole to a depth of approximately 5,900 feet MD where open-hole electric logs will be acquired to evaluate the anticipated Jurassic oil reservoirs before setting a 9 5/8-inch casing. An 8 ½-inch hole will then be drilled to TD in order to test for Triassic aged formations which are expected to contain gas.

Solo owns a 10% direct interest in Horse Hill Developments Ltd ("HHDL"). HHDL is a special purpose company that owns a 65% participating interest and operatorship of onshore licences PEDL137 and the adjacent licence PEDL 246 in the UK Weald Basin. The participants in the Horse Hill-1 well are HHDL with a 65% working interest and Magellan with a 35% interest.

aex up on find nearby will solo follow suit?
gla