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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 - 12 Apr 2012 07:12 - 261 of 429

Ausable EOR Project Update, Canada

poo bear - 12 Apr 2012 07:25 - 262 of 429

Well, "I always knew this was about Canada!!!"

Or some things may surprise me more like the truth, I had not even looked at that part of their portfolio.

skinny - 27 Apr 2012 13:07 - 263 of 429

For Immediate Release
27 April 2012
SOLO OIL PLC
("Solo" or the "Company")
Director's Dealings
The Board of Solo was informed today that Neil Ritson, Director, has purchased yesterday a total of 4,000,000 ordinary shares of 0.01p each in the Company at an average price of 0.54p per share. This purchase takes Mr Ritson's total holding to 21,000,000 ordinary shares, representing 0.82% of the Company's total issued share capital.

In addition, Mr Ritson holds 40 million options to subscribe for ordinary shares in the Company at an exercise price of 0.5 pence per share that expire on 21 December 2012.

skinny - 30 Apr 2012 07:13 - 264 of 429

Ntorya-1 Update, Tanzania


Solo today announces the completion of drilling operations and an update on plans for testing the gas discovery made in the Ntorya-1 well in the Ruvuma Basin onshore in southern Tanzania.

The Caroil-6 rig has now been released from the Ntorya-1 well and will be demobilised to make way for the wireline testing equipment that has been mobilised and is due to arrive at the site within the next 30 days. A production string has been run in the well and a Christmas tree installed in preparation for the planned test sequence.

On the 27th February 2012, Solo and Aminex reported that a gas discovery had been made in a 25 metre (80 foot) gross Cretaceous sandstone interval between 2,660 metres and 2,685 metres. This interval will now be tested with a view to establishing the level of production that can be obtained. Results of the testing will be announced once available.

Aminex and Solo have also commissioned new geological and seismic studies to establish the extent of the Ntorya discovery and to locate further prospects in the Ruvuma Production Sharing Agreement (PSA) where Solo plans to invite offers from potential partners to participate in the next round of exploration, commencing with the acquisition of additional seismic data later in 2012.

Solo holds a 25% interest in the discovery and the Ruvuma PSA.

Neil Ritson, Solo Executive Director, commented;

"This discovery is ideally located just 20 kilometres from Mtwara where there is an existing gas to power facility and where there are plans to install additional gas facilities and pipelines to commercialise the reported 70 tcf of gas already discovered in the Ruvuma Basin. Having low cost gas onshore close to Mtwara is a significant advantage and we hope to capitalise on that jointly with Aminex. We also look forward to further exploration in this highly prospective area. "


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.

skinny - 18 Jun 2012 07:23 - 265 of 429

Drilling Report.

Ausable EOR Project Update, Canada

Solo today announces a further update on activities in South Western Ontario, Canada operated by its Joint Venture partner Reef Resources Limited ("Reef").

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

Reef is pleased to report that the completions conducted on South Airport #1, North Airport #1 and the workover of Ausable #4 have been successfully completed. Swabbing has been initiated on South Airport #1 and flow test results will be reported when a stabilized flow rate has been established. The North Airport #1 multi-stage stimulation treatment was finalized on June 14, swabbing and flow results to be reported as they become available. A workover on Ausable #4 was conducted to breakdown wellbore emulsions. The chemical squeeze was successful and flow rates will be established once a venturi pump is installed and in operation.

Based on experience gained over recent months a facility upgrade has commenced with the planned installation of a high volume water/oil/gas separator, water filtration system for the venturi pumps, water line heater to mitigate potential wellbore waxing issues and the necessary piping, electrical and control modifications.

Additionally, the 5 kilometre South Airport pipeline to the Ausable facility is now complete and will be commissioned once the South Airport well is ready for production. The infield Ausable well pipeline tie-ins are also complete and will be commissioned along with the upgraded Ausable facility. Once the facilities upgrade is in full operation wells Ausable #1, #2, #4 and #5 will be placed on oil and gas liquids production. The produced gas and gas liquids from South Airport #1 will be used for gas re-injection and recycling.

It is not currently intended to establish stabilised oil flow rates from the Ausable field wells until the additional facilities have been commissioned. In the interim, gas from Union Gas continues to be injected into the field to provide voidage replacement and pressure enhancement of the Ausable reef as part of the long-term enhanced oil recovery program. To date 24.7 mmcf of gas has been injected in the Ausable field resulting in positive pressure increases in the outlying wells. Dry natural gas from Union gas along with produced gas from the Airport wells, once on stream, will continue to be injected with real time pressure monitoring conducted across the entire reef. Real time pressure monitoring along with production history from all wells will ultimately determine optimum well placement and recovery factors.

Neil Ritson, Solo Executive Director, commented;

"Reef continues to make steady progress towards having all the Ausable and Airport wells on stream and the Ausable enhanced oil production and gas cycling scheme fully commissioned. The hoped for production from the main Ausable oil production wells, including Ausable #5, has been deferred by several weeks, however, it is clear that all the commissioning issues are with surface equipment and that the wells will meet previously anticipated performance expectations. We believe that Reef can now complete the final facilities modifications quickly and that stable production can be initiated shortly. "

skyhigh - 21 Jun 2012 19:59 - 266 of 429

Bought some more on the back of the below announcement released today....



Ntorya-1 well test set to start, says Solo
StockMarketWire.com
Solo Oil has confirmed testing is set to start to establish the level of production that can be obtained from the Ntorya-1 well in the Ruvuma Basin onshore in southern Tanzania.

The testing equipment has been set up on site and the upper 3.5 metres of net pay sand has been perforated.

After an initial clean-up flow, during which gas was flowed to surface in order to clean the well, the well has been shut-in to install pressure gauges.

The main flow test is expected to start tomorrow (22 June) and to take approximately four days to complete.

Results will be announced following completion of the flow test.

Solo Oil has a 25% interest with the balance held by operator Ndovu Resources Ltd (Aminex).

Solo executive director Neil Ritson said: "The testing of the Ntorya-1 well is vindication of the strategic decision taken by Solo in 2009 to farm-in to the Ruvuma PSA.

"The testing follows Solo's participation in the Likonde-1 well, which proved the presence of both reservoir and hydrocarbons, and the Ntorya-1 discovery.

"We have also increased our participation from 12.5% to 25% in the Ruvuma PSA at a time when major discoveries have been made in adjacent areas."

skinny - 28 Jun 2012 07:41 - 267 of 429

Tanzania Test Results

Ntorya-1 flows 20 million cubic feet per day of gas and liquids


Solo today announces significant results from the flow testing of the Ntorya-1 well at its discovery in the Ruvuma Basin onshore in southern Tanzania.

The well flowed gas at a measured rate of 20.1 million cubic feet per day (equivalent to 3,350 barrels of oil per day) through a 1" choke, with an estimated additional 140 barrels per day of 48 degrees API condensate. Original reservoir pressure was indicated at 5,424 psi and only small quantities of formation water were produced.

The uppermost 3.5 metres of the gross 25 metre (80 feet) sand interval was perforated and the well was flowed on several choke sizes from 16/64ths to 64/64ths of an inch over extended intervals during the last four days with corresponding shut-in periods to acquire pressure build-up data. Samples were also taken for further analysis which with the pressure data will assist in designing a future development programme.

The successful testing will now be followed by a programme of seismic acquisition later in the year in order to gain a fuller understanding of the size of this discovery and to identify further drilling targets. An independent reserves report on the Ruvuma PSA, commissioned in April following the discovery, is nearing completion and the findings of that report will be issued shortly.

Participants in the Ruvuma PSA are: Ndovu Resources Ltd (Aminex) 75% (operator) and Solo Oil Plc 25%.

skyhigh - 28 Jun 2012 09:52 - 268 of 429

Good news! shame the SP hasn't taken off...market down today as well.....but all in all it bodes well for the future

magicjoe - 08 Aug 2012 13:27 - 269 of 429

Ready for the rise, the volume is there 53M

Chart.aspx?Provider=Intra&Code=SOLO&SizeChart.aspx?Provider=EODIntra&Code=SOLO&S

magicjoe - 08 Aug 2012 16:01 - 270 of 429

Steady rise this afternoon as volume goes to 90M

one to watch but now at top

Chart.aspx?Provider=EODIntra&Code=QPP&Si

skinny - 28 Aug 2012 07:23 - 271 of 429

Production Update

Solo today announces that full-scale oil production has commenced at the Ausable Field in South Western Ontario, Canada, operated by Solo's Joint Venture partner, Reef Resources Limited ("Reef"). Reef has reported that the field has been on production since the 13 July 2012.

Two of the four wells at the Ausable Oil Field (Ausable #1 and Ausable #5) have now been put on line and total liquids potential of 275 barrel oil equivalent per day (boepd) gross has been computed based on the current gas cycling rate of 236 thousand cubic feet per day (mcfd). The initial two wells production rate averaged 13 boepd although this is now being rapidly scaled up as gas cycling rates are increased.

These initial two wells and the surface facilities have now been fully configured for long-term production. Wells Ausable #2 and Ausable #4 will additionally be placed on production and will add substantially to current daily production. Reef anticipate increasing the gas cycle rate about 20-fold to 5,000 mcfd progressively over the next 4 to 6 months and project that liquids production from the four well scheme will then rise to approximately 700 boepd (gross).

Gas has been injected into the reservoir purchased from a local gas utility and will shortly be supplemented with gas from the North and South Airport wells, both drilled by Reef. The cycling of gas provides both pressure support to the reservoir and additional liquids production. Since March 2012, about 50 million standard cubic feet of dry gas have been injected into the reservoir, which represents approximately 10 per cent of the intended volume. As gas injection continues in the coming months, both oil and condensate production volumes will increase.

The recently completed facilities upgrade has successfully addressed all major issues arising from the installation of venturi pumps in the wells and has incorporated the modifications needed for sustainable long-term gas cycling.

The upgrade was a vital component in the optimisation of Reef's EOR program, which is already delivering results. Reef is currently reviewing the final phase of the facilities project, in which the addition of refrigeration will allow the capture of additional natural gas liquids from the production stream. Reef is now well placed to increase production at Ausable and start rolling out its fully configured EOR process across its portfolio of nearby oil projects.

LGO currently holds a 28.56% interest in the project and an option to increase that to 38.1% in return for further investments of CDN$ 1 million. Based on projected production rates the project is expected to generate positive cashflow to its owners by late 2012.

Glen Howarth - 10 Sep 2012 16:08 - 272 of 429

Solo is looking an interesting play now IMVHO, i think even if they hit half the
projected BOPD in Canada this will shoot very quickly past 1p again. And also
their stake in the Rumava basin in Tanzania now looks a very shrewd move by
the company.....we could easily see this SP double or treble very quickly once
the next updates come ( due in sept ) . Well worth a punt at near year lows.

Last RNS has some clues the next update could be rather positive .

http://www.investegate.co.uk/Article.aspx?id=201208280700208192K

Jazz T - 10 Sep 2012 18:27 - 273 of 429

Solo Oil are at the Oil Barrel conference this week, it looks to me like they are
timing the CANADA update with this.

Strong buy under 0.40p imvho

Glen Howarth - 10 Sep 2012 22:24 - 274 of 429

jazz T

Incase you not seen it here is details of the Oil Barrel conference on thursday
and the other companies presenting.

Like you i think they will update on canada

http://oilbarrel.com/pub/articles/article_id-38

Jazz T - 11 Sep 2012 10:15 - 275 of 429

thanks glen,i was searching for info on the oil barrel conference this morning
and also found this on stockopedia ( see below )

http://www.stockopedia.co.uk/content/solo-oil-plc-oil-barrel-conference-13th-september-68006/

Solo Oil Plc - Oil Barrel Conference 13th September

Tuesday, Sep 11 2012

Solo Oil will be presenting at the 54th Oilbarrel Conference - Thursday 13th September 2012 , among other companies presenting are Petroceltic International and Simba Energy. Details of venue and times can be found here - http://oilbarrel.com/pub/articles/article_id-38

Solo look to be entering a potentially very interesting period with major developments ongoing at both its key assets. In Canada via its investment in Tsx listed Reef Resources and in Tanzania via its Production Sharing Agreement ( PSA ) with london listed Aminex.

Solo,s last production updates holds more than a fair few clues that solid progress is being made in Canada and also at the ruvuma basin in Tanzania. For example in Canada the company and its partner have been carefully preparing the ground and are now commencing full scale production in Ontario, solo,s boss has recently said they are ontrack for 500 boepd production by end of 2012 *

From last official update via RNS: ( Ontario Canada )

28 August 2012

Solo today announces that full-scale oil production has commenced at the Ausable Field in South Western Ontario, Canada, operated by Solo's Joint Venture partner, Reef Resources Limited ("Reef"). Reef has reported that the field has been on production since the 13 July 2012.

Two of the four wells at the Ausable Oil Field (Ausable #1 and Ausable #5) have now been put on line and total liquids potential of 275 barrel oil equivalent per day (boepd) gross has been computed based on the current gas cycling rate of 236 thousand cubic feet per day (mcfd). The initial two wells production rate averaged 13 boepd although this is now being rapidly scaled up as gas cycling rates are increased.

These initial two wells and the surface facilities have now been fully configured for long-term production. Wells Ausable #2 and Ausable #4 will additionally be placed on production and will add substantially to current daily production. Reef anticipate increasing the gas cycle rate about 20-fold to 5,000 mcfd progressively over the next 4 to 6 months and project that liquids production from the four well scheme will then rise to approximately 700 boepd (gross).

Gas has been injected into the reservoir purchased from a local gas utility and will shortly be supplemented with gas from the North and South Airport wells, both drilled by Reef. The cycling of gas provides both pressure support to the reservoir and additional liquids production. Since March 2012, about 50 million standard cubic feet of dry gas have been injected into the reservoir, which represents approximately 10 per cent of the intended volume. As gas injection continues in the coming months, both oil and condensate production volumes will increase.

The recently completed facilities upgrade has successfully addressed all major issues arising from the installation of venturi pumps in the wells and has incorporated the modifications needed for sustainable long-term gas cycling.

The upgrade was a vital component in the optimisation of Reef's EOR program, which is already delivering results. Reef is currently reviewing the final phase of the facilities project, in which the addition of refrigeration will allow the capture of additional natural gas liquids from the production stream. Reef is now well placed to increase production at Ausable and start rolling out its fully configured EOR process across its portfolio of nearby oil projects.

Solo currently holds a 28.56% interest in the project and an option to increase that to 38.1% in return for further investments of CDN$ 1 million. Based on projected production rates the project is expected to generate positive cashflow to its owners by late 2012.



Neil Ritson, Solo Executive Director, commented:

"We are delighted that, after the recent comprehensive facilities upgrade, the Ausable Field is now entering full-scale operation. As additional wells are hooked up to the new facilities and gas recycling rates are increased we remain confident that our previous estimate of a gross 500 boepd remains achievable by end 2012. The addition of refrigeration facilities and the use of equity gas from the Airport wells will further enhance the economics of the project, which now offers substantial benefits to Solo and its shareholders."



Last Tanzania update :

Highlights

· Mean unrisked GIIP within identified leads, prospects and discoveries of 5.75 tcf

· A total 1.17 tcf mean unrisked GIIP at Ntorya of which 178 billion cubic feet (bcf) is discovered

· A large lead up-dip of Ntorya is seen to have a mean 2.62 tcf unrisked GIIP potential

· ISIS also recognises significant, but so far unquantified, oil potential in the Karoo Formation

For full details Follow Link -

http://www.investegate.co.uk/article.aspx?id=201207020700115868G

Glen Howarth - 11 Sep 2012 11:59 - 276 of 429

GOOD FIND JAZZ,some strange things going on here this morning - i bought
3.1m shares this morning at 08.55am @ 0.32p and it was published as being
0.302p ??

Makes me think the mm,s are trying to keep this under wraps while a buyer is
being helped to stakebuild.

Jackson55 - 11 Sep 2012 14:08 - 277 of 429

this looks like its preparing for a breakout guys

Glen Howarth - 11 Sep 2012 17:00 - 278 of 429

There have been a number of chunky buys last few days and i have a hunch
someone is "in the know" on canada. The oil barrel will be interesting on thursday

Jazz T - 11 Sep 2012 22:32 - 279 of 429

glen im sure that a big buyer is active here at moment and the mm,s are helping
them.Things are defo getting interesting and some good action coming IMO

Jazz T - 12 Sep 2012 09:50 - 280 of 429

Some good buying pressure now starting ahead of OB conference tomorrow and
more of those chunky regular trades popping up - same buyer ?
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