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 ?

Skyhigh : you are risking everything...it's a toss of a coin on this...

.

RF....not everything by any means (but still a fair chunk!)....appreciate that this could be a duster/let down etc., hopefully we'll hear one way or another by end of next week.

hopefully we will hear tomorrow or monday latest

remember solo is not just 1 hole:

Tullow operates two onshore licences in the Tanzanian portion of the Ruvuma Basin with partners Aminex and Solo. The combined 12,360 sq kmSquare kilometres acreage lies approximately 500 kmKilometres south of Dar es Salaam, along the Mozambique border and comprises of the Mtwara and Lindi licences. The licences are adjacent to the Mnazi Bay gas field which was discovered in the 1980s. Tullow acquired the licences through the acquisition of Hardman Resources in January 2007.

Licence list

Licence Fields Area

sq kmSquare kilometres Tullow interest Operator Other partners

Lindi 7,315 50.00% Tullow Aminex, Solo

Mtwara 5,045 50.00% Tullow Aminex, Solo



result due any time:

Following further 2D seismic reprocessing it has now been decided to prioritise the Likondi prospect ahead of the Mikindani prospect. The well is currently drilling with a result expected during February.

Planned 2010 Exploration Programme

Licence/

Block Prospect/

Campaign Interest Date/Status

Lindi & Mtwara Likondi 50% (op) Q1 2010

http://www.tullowoil.com/our-business/where-we-operate/africa/tanzania.html

http://www.tullowoil.com/our-business/where-we-operate/africa/tanzania/E-and-A.html

from another bb:

The reason david lenigas solo has a stake in this drill is due to lonrho plc successfully owning a high stake in lubafreeport,, the only port that sits in the middle of tanzania & other african countries its a tax haven for oil companies & due to grow strongly over the years,, so with lenigas & solo, striking deals with tlw & aex,, more should follow for solo,, check www.lubafreeport.com & check the oil companies already based ,,,,, no wonder D.L wants to make solo a large oil company in the future ,,,, he owns the port,, yes am a shareholder with lonrho...DYOR

&

Good work, for a minute I thought you were a little confused between Equ Guinea and Tanz ..... well spotted.

http://www.lubafreeport.com/Doc/Q4Update20.08.09.pdf

http://www.solooil.co.uk/about-board.php

Bouncing for the last couple days with very large volume today. All the Indicator positive just now
Very narrow spread at the moment 0.74 / 0.75p

expecting drilling results before the end of the month

Join the DES & EME club.

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

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