Solo Oil plans to acquire a diverse portfolio of direct and indirect interests in exploration, development and production oil and gas assets which are based in the Americas, Europe or Africa. Both on-shore and off-shore interests will be considered. The intention is to acquire a widely distributed mix of oil and gas development and production assets.



Last Analyst Report covering Tanzania



ISIS Petroleum Consultants has attributed 5.75 TCF of total mean unrisked gas in place for the identified leads, prospects and discoveries on the Ruvuma PSA (Solo: 25%). This represents very exciting progress for the company and the additional detail available from ISIS’ report has enabled us to upgrade our valuation of Solo’s interest in Ruvuma.

• On 27 June, the Ntorya-1 discovery (Solo: 25%) flowed gas at 20.1 mmcfpd and 140 bpd of condensate from the Lower Cretaceous sands. Based on the well data combined with seismic mapping, ISIS has attributed discovered gas initially in place (GIIP) of 178 BCF with a P10 upside of 284 BCF. Up-dip potential for the Ntorya-1 prospect defined by seismic mapping adds a further undiscovered mean GIIP of 990 BCF.

• Located further up-dip to the west of Ntorya, in a separate channel fill complex, is the Namisange lead which has been attributed with a potential unrisked undiscovered mean GIIP of 2.62 TCF. A seismic infill programme is planned for later in 2012 to better image the Ntorya area and the Namisange lead.

• North of Ntorya, seismic mapping has identified up-dip potential in the Lower Tertiary sandstone penetrated by the Likonde-1 well in 2010. To this lead, ISIS has assigned a mean unrisked undiscovered GIIP of 504 BCF. Further north, towards the coast, the Sudi lead has also been re-mapped and attributed GIIP of 436 BCF.

• In addition to these leads, the ISI report also recognises additional potential in the Karoo section in the northern part of Ruvuma which has the potential for oil as demonstrated by the Lukeledi-1 well drilled in 1992.However, this potential has not yet been quantified due to lack of seismic control.

• Nevertheless, remapping of the offshore section of the Ruvuma PSA, representing approximately 20% of the licence area has highlighted a prominent channel fill complex called Kiswa at the Base Tertiary Unconformity level and to which ISIS has attributed unrisked undiscovered mean GIIP of 709 BCF.

Solo will now participate in further seismic acquisition in order to appraise the Ntorya-1 discovery and upgrade the highest potential leads to drillable status. Solo will also seek an additional partner in order to participate in the next phase of exploration which will consist of at least two exploration wells. On the basis of ISIS’ findings, we have increased our valuation of Solo’s interest in the Ruvuma PSA from 0.95p to 1.6p per share. Consequently, out fully diluted share price target for Solo is upgraded from 1.5p to 2.0p.


Last Company Update on the Farmout

RNS - 29th Jan 2013

Solo today announces that due to the considerable level of interest being expressed in the farm-out of its Ruvuma PSA in Tanzania the deadline for the receipt of bids has been extended until March 2013.


Neil Ritson, Solo Executive Director commented:


"The level of interest has been very significant and it has not been possible to accommodate all the interested parties in the physical data-room prior to the original bid deadline. Several companies have asked for the deadline to be extended in order to allow them to complete their evaluation and we have therefore agreed with Aminex and FirstEnergy Capital LLP to accept bids up until early March."

BP has just revealed ambition to be a major gas player in tanzania



http://allafrica.com/stories/201302220081.html

22 February 2013

BP Oil, a firm that traded in petroleum business for many years in Tanzania, has expressed interest to invest in natural gas exploration and drilling in the country.A delegation of BP senior officers led by their Vice- President in charge of Global Business Development Exploration and Access, Dr Jonathan Evans, presented the request to the Minister for Energy and Minerals, Prof Sospeter Muhongo.Dr Evans said his company has been inspired by the information on availability of natural gas in the country and wish to try their luck.

Prof Muhongo said he welcomed the request, but noted that BP should be ready to compete openly with several others which have already presented their requests. "Our ministry intends to seriously run all of its activities in a fair and transparent manner in a way that anyone who appears to engage in corruption, even though it is just a rumour, will expel himself from the business," he said.

However, Prof Muhongo has commended the firm for its good record, saying it is among few companies with no complaints on selling contaminated oil. He added that such a behaviour add credits for the company to be given a chance of competing with other companies for the opportunity to have a licence for oil and gas exploration in the country.

Prof. Muhongo said the government was prepared in making sure that the sector benefits both sides -- the nation and investors. Giving details, he said, different training programmes on oil and gas have been established in local universities and colleges.He added that scholarships have been granted to Tanzanian students to pursue different courses in oil and gas technology. Prof Muhongo said Brazil's Petrobras Company has offered scholarship for students to study in Brazil and the Chinese government has offered scholarships for students to study in eight universities in their country.This strategy aims to make sure the nation produces enough experts in the oil and gas sub-sector in the country for them to supervise the respective sector.

East Africa oil product market draws fierce competition

http://www.reuters.com/article/2013/02/21/africa-oilproducts-idUSL6N0BJ9XX20130221

Another good snippet on east african oil and gas


http://www.directorstalk.com/investor-appeal-of-oil-gas-in-east-africa/

solo oil is on its way, i'v been for just 3 months and will stay for now

Solo was on the move up today, like the other Horse Hill stock UKOG
some excitement on other places as both had large volume

http://www.moneyam.com/action/news/showArticle?id=5012247

Solo's interest in Horse Hill:

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 Petroleum Corporation with a 35% interest.
---------------
Also the recent Upper Portland oil discovery in which the Solo has a 6.5% interest.

On the move now as UKOG has been very strong earlier

Horse Hill Licences, UK Weald Basin

Solo notes the comments in yesterday's press in relation to the Horse Hill licences ("Horse Hill") in which the Company has an interest of 6.5 percent. The Company confirms the current two exploration licences over Horse Hill and their expiry dates are as follows:

the PEDL137 licence (within which the Horse Hill-1 well was drilled and which was the subject of the Company's announcement on 9 April 2015) expires on 30 September 2015, and

PEDL246 licence expires on 30 June 2019.

The operator of the two licences, Horse Hill Developments Limited ("HHDL"), has already applied to the Oil & Gas Authority ("OGA") (formerly the Department of Energy and Climate Change) for a one year extension of the exploration period of PEDL137.

The OGA has the power, under certain circumstances, to grant extensions to the term of exploration licences and onshore exploration licences can be converted to a production period of 20 years at any time prior to expiry if the Secretary of State approves a field development plan.

Further, the Company has been informed by the PEDL137 operator, HHDL, that it intends to conduct a flow test on Horse Hill-1 later in 2015 and that it has already submitted the required applications to the authorities for their consent. Planning approval for a flow test on Horse Hill-1 is already in place since it was part of the original Surrey County Council planning approval. Subject to the results of the flow test, the operator would seek to move the PEDL137 licence into the production period, via submission of a field development plan.

more....

Acquisition of Buri Africa shares

Solo Oil - Acquisition of Buri Africa shares
click here

EXCLUSIVE: Solo Oil chairman says Horse Hill media comments ‘misleading’
Wed, 29th Apr 2015

Neil Ritson, Solo Oil’s (LON:SOLO) chairman tells Proactive Investors some of the comments in the national media about the Horse Hill project approvals are ‘misleading’. ‘The project is moving forward,’ Ritson explains. ‘We’re waiting for some consents, but we’re always waiting for consents; it’s a hugely complicated regulatory environment in which we operate and we’re rigorous in pursuing that in the right order and at the right time.’ Ritson also discusses today’s deal for a stake in Burj Petroleum Africa, which opens the door to marginal fields in Nigeria. He also talks about the importance of securing a partner such as Global Oil and Gas, run by InterOil founder Phil Mucalek.

Http://www.stocktube.com/video/exclusive-solo-oil-chairman-says-horse

Is Now The Perfect Time To Buy These 3 Oil Stocks? Premier Oil PLC, Solo Oil PLC And Ithaca Energy Inc. - Peter Stephens - Wednesday, 6 May, 2015

While the price of oil is still just over $60 per barrel, it has risen by around 30% since its lows earlier on in the year. Of course, it is still just over half the level at which is stood less than a year ago but, while it could resume its downward trend, the prospects of oil at less than $40 per barrel seems less likely than they were a couple of months ago.
Of course, oil producers such as Premier Oil (LSE: PMO) have been hit hard, with it reporting impairments to its asset base and falling into loss-making…....

Is Now The Perfect Time To Buy These 3 Oil Stocks? Premier Oil PLC, Solo Oil PLC And Ithaca Energy

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