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 ?

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

LEAK - MOVING!

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.

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)

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.

"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.

Application in the UK 14th Round

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.

Watch: Neil Ritson, Chairman discuss Solo Oil

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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."

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....

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.

Solo Oil - Acquisition of Kiliwani North & update on UK

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Solo Oil - Update: Kiliwani North gas field, Tanzania

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Update on Horse Hill discovery, UK Weald Basin

Solo is pleased to announce that its technical alliance partner in the Horse Hill discovery in the UK Weald Basin, UK Oil and Gas Investments plc ("UKOG"), has released a significant update on the technical work being conducted by UKOG on behalf of Horse Hill Developments Limited ("HHDL") in alliance with NUTECH Ltd ("Nutech").

UKOG have announced that ongoing well analysis of the Horse Hill-1 well ("HH-1") with Nutech has identified that, in addition to the previously reported 102 feet of Portland sandstone gross oil pay, a further 407 feet of potential net oil pay exists within limestones and claystones of the Kimmeridge Clay ("Kimmeridge"), Oxford Clay ("Oxford") and Middle Lias ("Lias") Formations calculated from electric logs.

Update Kiliwani North Development, Tanzania

The Company has been informed by operator Aminex plc that the Tanzanian Petroleum Development Corporation ("TPDC") have formally reported that the regional pipeline connecting Dar es Salaam to Mnazi Bay is now complete and that hydrostatic pressure testing will begin shortly. The construction of the processing plant on Songo Songo Island is reported by TPDC as approximately 95% complete and it is expected that commercial production of gas from Kiliwani North will commence late in the first half 2015 with stabilized production rates achieved during the third quarter 2015.

Neil Ritson, Solo's Chairman, commented:
"The project remains on track for first commercial sales in the mid-year and once the gas sales agreement comes into force we will consider our option to double our interest in the project from 6.5% to 13%."

Significant upgrade to the Horse Hill discovery, Weald Basin

Solo is pleased to announce that its technical alliance partner in the Horse Hill discovery in the UK Weald Basin, UK Oil and Gas Investments plc ("UKOG"), has released a significant further update based on the technical work being conducted by UKOG on behalf of Horse Hill Developments Limited ("HHDL") in alliance with Solo and NUTECH Ltd ("Nutech").

UKOG has announced that it has discovered a potentially significant Jurassic petroleum resource in the UK's onshore Weald Basin within the Horse Hill Licences. This is in addition to the previously reported Upper Portland oil discovery in which the Solo has a 6.5% interest.

US-based Nutech, one of the world's leading companies in petrophysical analysis and reservoir intelligence, estimate that the Horse Hill-1 ("HH-1") well indicates a total oil in place ("OIP") of 158 million barrels of oil ("mmbo") per square mile, excluding the previously reported Upper Portland Sandstone oil discovery.

Nutech's report states that this OIP lies within a 653 feet aggregate net pay section, primarily within three argillaceous limestones and interbedded mudstones of the Kimmeridge, and additionally in the mudstones of the Oxford and Lias sections. Approximately 72% of the OIP, or 114 mmbo, lies within the Upper Jurassic Kimmeridge interbedded limestone and mudstone sequence. The Executive Summary of the Nutech report is appended in full below.

In order to establish estimates of total OIP within the 55 square mile licence area further analysis work is ongoing under the contracted alliance between Nutech, UKOG and Solo. The results of the estimated OIP within the licence will be reported when completed.

Final assessments of the Upper Portland Sandstone, and the Oxford and Lias sections, are in progress, with further results expected shortly.


more....

Potential UK oil discovery 'significant'

Looks like the MMs are struggling to get stock to fill orders.

Expect SP manipulation and tree-shake to weed out weak investors. I think a significant short term re-rating upwards of the SP is due soon. This is only the beginning IMO.

Hold tight and keep your nerve, - expecting a bumpy SP ride over next few weeks / months.

DYOR

HAb

Solo Oil - Upgrade to Horse Hill

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