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Solo Oil could go So high ! (SOLO)     

skyhigh - 19 Oct 2009 08:28

Chart.aspx?Provider=EODIntra&Code=SOLO&SChart.aspx?Provider=Intra&Code=SOLO&Size


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 ?

skinny - 29 Sep 2014 11:28 - 386 of 429

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.

gibby - 02 Oct 2014 09:41 - 387 of 429

aex up on find nearby will solo follow suit?
gla

skinny - 06 Oct 2014 07:07 - 388 of 429

Drilling Report

Drilling Update, Horse Hill-1, Weald Basin UK


Solo today advises that the Horse Hill-1 well has intersected the Portland Sandstone over the weekend and has encountered oil shows identified by mud logging from 2,100 feet to 2,140 feet measured depth ("MD"). At 14:00 hours yesterday, the well was drilling ahead at 3,030 feet MD towards the other primary and secondary targets.

Sandstone drill cuttings recovered from the well have been analyzed and are confirmed by the operator to have "a dull yellow fluorescence with a slow diffuse light blue cut with a trace of residual oil ring". This indicates the presence of oil within a porous and permeable rock matrix. Gas readings within the mud over the same interval were also elevated and recorded gases compositions consistent with the presence of oil.

The Horse Hill-1 well is located on the northern side of UK Weald Basin near Gatwick Airport and is planned to test a number of conventional oil and gas targets. The primary oil reservoir targets in this well lie in the Jurassic age Portland Sandstone and the Corallian Sandstone. There are also a number of secondary oil targets in the Jurassic formations, including the Great Oolite Limestone. The well is presently being drilled to the second of the primary targets in the Corallian Sandstone.

Electric logs will be acquired on reaching the third casing point at approximately 5,900 feet MD before setting a 9 5/8-inch casing. The well will then be drilled with an 8 ½-inch hole will be drilled to 8,658 feet total depth ("TD") in order to test for Triassic aged formations which are expected to contain gas.

Solo owns a 10% interest in HHDL, a special purpose company which 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.

gibby - 13 Oct 2014 09:13 - 389 of 429

looks too cheap right now - expect a bounce

gibby - 14 Oct 2014 07:35 - 390 of 429

more blue.........................

Solo Oil Plc
Acquisition of interest in Kiliwani Gas Field
RNS Number : 1813U
Solo Oil Plc
14 October 2014


For Immediate Release, 7 am

14 October 2014



Solo Oil plc

("Solo" or the "Company")



Acquisition of an Interest in Kiliwani North Gas Field, Tanzania



Solo Oil plc (AIM: SOLO) is pleased to announce that it has signed binding heads of agreement to acquire an initial 6.5% interest in the soon to be producing Kiliwani North Development License ('KNDL') in Tanzania from Ndovu Resources Ltd. ('Ndovu'), a wholly-owned subsidiary of Aminex PLC ("Aminex"), for a total consideration of US$3.5 million ("Initial Acquisition"). Solo also has a 45 day option to increase its interest in the KNDL by a further 6.5% to 13% ("Second Acquisition").



The KNDL contains the Kiliwani North 1 ('KN1') well which is expected to produce at an approximate rate of 20 million cubic feet per day ("mmscfd") (equivalent to more than 3,000 barrels of oil per day) in first half 2015. This agreement, when closed, will represent a major landmark for Solo as it will give the Company its first revenue from Tanzania. Independently verified gross in-place unrisked mean gas resources of the well, computed by Isis Petroleum Consultants Pty Ltd, are estimated as 45 billion cubic feet ("bcf"). Construction of the 2 kilometre long pipeline from KN1 to the new Songo Songo gas processing plant has now commenced and is expected to be completed in early 2015.



The Songo Songo gas processing plant is connected with the newly constructed 36-inch gas pipeline from Mtwara in the south of Tanzania to Dar es Salaam, the national capital, in the north, and this provides an immediate route to monetise the Kiliwani North gas production.



Ndovu (Aminex's nominated joint operator of KNDL together with the Tanzanian Petroleum Development Corporation) is in advanced negotiations for a gas sales agreement with the Tanzanian authorities and these negotiations are expected to be satisfactorily concluded in the near future. Solo notes that the Tanzanian authorities have recently reached agreement with another operator in the region.



Solo and Aminex are already partners in the Ruvuma Production Sharing Contract ("Ruvuma") in southern Tanzania, with respectively 25% and 75% working interests, and where newly acquired seismic data has extended the potential of the Ntorya appraisal area. The partners in Ruvuma have recently announced an upgrade of the mean gas in-place estimate to 2.3 trillion cubic feet ("tcf") by combining the Ntorya discovery with the adjacent Likonde prospect.





Neil Ritson, the Company's Executive Director, commented:



"This acquisition significantly increases Solo's exposure to the rapidly developing Tanzanian gas sector and will provide valuable revenue for many years from the soon to be commissioned Kiliwani Gas Field on Songo Songo Island. Solo and Aminex are continuing to work together to commercialise the exciting multi-tcf Ntorya discovery and participation in Kiliwani North provides valuable near-term revenue and insights into the Tanzanian gas market."



The key terms of the proposed KNDL acquisition are set out below:



1. The Initial Acquisition will consist of a cash payment of US$3.5 million for 10% of Aminex's 65% interest in KNDL, representing a 6.5% interest in the entire KNDL, payable as a refundable deposit of US$250,000 within 7 days of 13 October 2014, with the balance of US$3.25 million becoming payable upon completion of the formal acquisition agreement. Completion of the Initial Acquisition is subject to (1) confirmation of waiver of pre-emptive rights by various joint venture partners, and (2) receipt of written approval from the Tanzanian authorities to the assignment, each being satisfied within 45 days of 13 October 2014.



The parties have agreed to enter into a formal acquisition agreement within 30 days of 13 October 2014.



2. The Second Acquisition will consist of an option by Solo to acquire a further 10% of Aminex's 65% interest in KNDL (a further 6.5% interest in the entire KNDL) on the same terms as the Initial Acquisition. This option will be exercisable within 45 days of 13 October 2014.



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 over 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.



Glossary:



bcf - billion cubic feet of gas

mmscfd - million standard cubic feet of gas per day

prospect - a potential accumulation that is sufficiently well defined to represent a viable drilling target

tcf - trillion cubic feet of gas



For further information:



Solo Oil plc

Neil Ritson


+44 (0) 20 7440 0642





Beaumont Cornish Limited

Nominated Adviser and Joint Broker

Roland Cornish


+44 (0) 20 7628 3396

skinny - 16 Oct 2014 12:33 - 391 of 429

Drilling Update, Horse Hill-1, Weald Basin UK


Solo today advises that the Horse Hill-1 well has now been drilled to the third casing point at 6,612 feet measured depth ("MD"), and will now be electrically logged through the observed Jurassic reservoir sections. Electronic logging and full interpretation of these logs is expected to take approximately one week.

The depth of the third casing point was deepened from the previously prognosed at 5,900 feet to a depth of 6,612 feet MD due to a number of reservoir intervals being identified deeper and thicker than expected.

On completion of the detailed logging, it is planned that a 9 5/8-inch casing will be set prior to drilling in an 8 ½-inch hole to a total depth ("TD") of approximately 8,680 feet MD in order to test for deeper Triassic aged formations where further electric logs will be acquired.

As previously announced, oil shows from mud logging have been identified in the Portland Sandstones and additionally oil shows, mineral fluorescence and elevated gas readings of C1 through to C5 have been detected whilst drilling the well to the current depth. The significance of these hydrocarbon shows will only become clear following the analysis of the detailed down-hole electric logs.

Solo owns a 10% interest in HHDL, a special purpose company which 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.

gibby - 20 Oct 2014 07:30 - 392 of 429

i would not want to be out of solo for the foreseeable!
http://www.telegraph.co.uk/finance/11171067/HORSE-HILL-SUNDAY-STORY-HEADLINE-TO-COME.html

plus super giant tanz!
gla

gibby - 22 Oct 2014 00:21 - 393 of 429

http://www.telegraph.co.uk/finance/11171067/Oil-find-expected-in-Britains-Dallas.html

gibby - 23 Oct 2014 16:06 - 394 of 429

LEAK - MOVING!

skinny - 24 Oct 2014 07:02 - 395 of 429

Portland Oil Discovery, Horse Hill-1

Solo today announces that, following preliminary evaluation of the electric logs, the Horse Hill-1 well has discovered an oil accumulation in the conventional Upper Jurassic Portland Sandstone at a top reservoir depth of 1,791 feet TVDss.

A preliminary most likely estimate of 3.1 million barrels ("mmbbls") of gross in place hydrocarbon volume has been calculated within the upper Portland, with a further gross unrisked in place prospective hydrocarbon volume of 16.8 mmbbls of oil in a separate lower sand in the Portland interval located in an untested fault block to the south. As previously announced, the well is being deepened to the Triassic where an additional target, believed to have potential for gas, is expected to be reached in the next two weeks.

The Portland Sandstone was previously reported on 16 October 2014 to have oil shows in cuttings and elevated gas readings whilst drilling and these indications have been confirmed by independent petrophysical analysis of the electric logs acquired in the well during the last week. Further analysis is continuing to establish the recoverable volume of oil that has been discovered.

poo bear - 24 Oct 2014 07:35 - 396 of 429

A nodding donkey opportunity with an upper end evaluation of:-


mmbbls, in-place-oil

Low (P90)

Medium (P50)

High (P10)


Discovered

1.5

3.1

4.8


Undiscovered

7.8

16.8

29.7

............. and a five way split.

I would format but don't want to eat into their profits.

That said I daresay some will make the share price fly upwards without knowing the facts. ( or caring)

cp1 - 24 Oct 2014 14:21 - 397 of 429

III articles author has stuck the boot in here and I suspect the 1.34p buyer this morning won't see his price again once he has had his head examined and gets out on day release. Do punters not look at valuations of a company before buying a share? Perhaps they think a share is cheap if it's only fractions of a pence? Mind boggles at the chasers here. GLA.

HARRYCAT - 24 Oct 2014 15:21 - 398 of 429

"Do punters not look at valuations of a company before buying a share?" Many people just trade the stock purely on momentum, chart (TA) or other criteria which have nothing to do with the fundamentals. My understanding is that is the difference between trading and investing.

skinny - 29 Oct 2014 07:06 - 399 of 429

Application in the UK 14th Round

HARRYCAT - 05 Nov 2014 09:53 - 400 of 429

StockMarketWire.com
UK Oil & Gas Investments and Solo Oil said the Horse Hill-1 well in the Weald Basin failed to find gas in the Triassic target but that it will be tested as a probable future oil producer from the Portland Sandstone discovery.

They said the well was successfully completed with a discovery in the Jurassic and has reached total depth at 8770 feet measured depth in rocks of pre-Triassic Palaeozoic age, which were prognosed at that depth.

The well has been electrically logged from the previous casing point to TD and a vertical seismic profile has been acquired to correlate the well to the available 2D seismic data. The logs are now being analysed along with all other relevant data from the well.

The well is currently being prepared for future flow testing in the identified Jurassic age Portland Sandstone oil discovery.

A preliminary most likely estimate of 3.1m barrels (mmbbls) of gross in place oil has been calculated within the upper Portland from a 102-foot gross oil column, with a further most likely unrisked undiscovered gross oil in place volume of 16.8 mmbbls in a separate lower sand in the Portland interval located in an untested fault block immediately to the south.

The Horse Hill-1 well is located on the northern side of the Weald Basin near Gatwick Airport.

js8106455 - 17 Dec 2014 08:56 - 401 of 429

Watch: Neil Ritson, Chairman discuss Solo Oil

Click here to watch

HARRYCAT - 17 Dec 2014 12:46 - 402 of 429

Upgrade on Portland Discovered Oil in Place Volumes and
Conventional Upper Jurassic Limestone Oil Play, Weald Basin UK


Solo today announces that, as a result of the analysis and integration of subsurface data from the Horse Hill-1 ("HH-1") discovery well, in which Solo holds a net attributable interest of 6.5%, the calculated estimates of the discovered most likely gross oil initially in place ("OIIP") within the overall Upper Portland sandstone conventional reservoir in the HH-1 and Collendean Farm-1 ("CF-1") structure have increased by over 250% from the 3.1 million barrels ("mmbbls") reported on 24 October 2014, to a current most likely OIIP of 8.2 mmbbls. Similarly, calculated estimates of low case (P90) discovered OIIP has increased by nearly 400% to 5.7 mmbbls and high case (P10) OIIP volumes show a 250% increase to 12.1 mmbbls.

In addition, the results of electric log analysis in the HH-1, CF-1 and other regional wells to the south of PEDL 137 ("Licence"), combined with ongoing geochemical analysis of HH-1 samples, indicate that the key elements of a conventional Upper Jurassic Limestone oil play have been demonstrated to extend into the southern part of the Licence. The HH-1 well demonstrates the presence of limestone porosity adjacent to, both overlying and underlying, thermally mature super-saturated world-class oil source rocks within a 1,496-foot gross interval of the Upper Jurassic Kimmeridgian Clay ("KC") Formation between 2,224 feet and 3,720 feet TVDss. Samples from the KC show total organic carbon ("TOC") of up to 9.4%, generative potentials of between 45-103 kg of hydrocarbons per tonne and with measured vitrinite reflectance ("Ro") exceeding 0.81% at the base of the formation.

Further conventional oil potential within the Middle Jurassic Kellaways Beds sandstones in HH-1 is currently under investigation.

Work is underway to obtain the necessary permissions to conduct a production flow test from the HH-1 Upper Portland conventional oil pool in 2015.

The current OIIP estimates are set out in Table 1 below. The full results of the HH-1 well are complex by their nature. The Operator's post-well evaluation has taken longer than expected and is still continuing, as described below.

Neil Ritson, Solo's Chairman, commented:
"The presence of a considerably larger volume of oil in place is very encouraging and we are keen to see the flow rate from the Portland Sandstone tested in order to assess the recoverable volume of oil. The presence of additional potential oil resources in the Kimmeridgian limestone and a far more mature source rock than previous expected are also of great interest and we look forward to updates as further studies are completed."

skinny - 18 Dec 2014 07:09 - 403 of 429

Update - Ruvuma PSC, Tanzania

Solo Oil plc (AIM: SOLO) has been advised by Aminex PLC ("Aminex") that they have updated their internal resource estimates in the southern part of the Ruvuma Petroleum Sharing Contract ("PSC") area, in which Solo holds a 25% interest, from mean initially in place gas of 2.3 trillion standard cubic feet ("tcf") to 3.2 tcf.

more....

cp1 - 31 Dec 2014 11:09 - 404 of 429

Apparently Tom W calling this a short and I can't say I blame him one bit. The way some of these tiddlers have risen in the face of collapsing oil defies belief. Look at sound oil valuation it seems ludicrous especially when you look at natural gas hitting new lows again this morning. BG group is struggling so I presume SOU is a much better run company producing gas cheaper than its 30 billion peer... !

I sense huge pain for oil stocks next year.

js8106455 - 03 Feb 2015 09:49 - 405 of 429

Solo Oil - Acquisition of Kiliwani North & update on UK

Click here
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