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Solo Oil and partners fail to find gas in UK well

Wed, 05th Nov 2014 15:47

A string of oil companies have announced that part of a well near Gatwick airport in southern England has come up dry, knocking their shares.The companies, including Stellar Resources, Solo Oil, Regency Mines, UK Oil & Gas Investments, Alba Mineral Resources and Doriemus, said exploration of the Triassic target in the Horse Hill-1 well had failed to find any gas.Last month, the companies said they had found an oil accumulation in the well on the northern side of the Weald Basin.Stellar and the others own stakes in Horse Hill Development Ltd (HHDL), a special purpose company which owns a 65% participating interest in licences in the Weald Basin. Magellan Petroleum Corporation owns the other 35%.Solo Oil's chairman Neil Ritson said the group and its partners were now assessing the potential for oil strikes nearby."Whilst we are naturally disappointed that there was no gas discovery in the Triassic, we remain delighted the well has made an oil discovery in the Jurassic Portland Sandstone and that further opportunities for additional oil potential have also been revealed by the well."Shares in Solo fell 0.22p or 27.6% to 0.56p at 16:01 in London.
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6 Aug 2014 11:28

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Horse Hill Developments Gets Key Approvals For Weald Basin Drilling

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11 Jul 2014 07:58

Alba Mineral Resources And Regency Mines Buy Into Horse Hill

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27 Jun 2014 07:28

UK MORNING BRIEFING: Imagination Technologies Hit By Intel Share Sale

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16 Jun 2014 13:37

Sector movers: Oil stocks track crude higher on Iraq violence

Rising crude prices helped lift stocks in the oil sector on Monday, as the ongoing violence in Iraq raised concerns about the knock-on effect on supply. Fighting between the Iraqi army and Sunni Islamist insurgents escalated this weekend after militants from the Islamic State of Iraq and the Levant

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16 Jun 2014 11:54

UK MIDDAY BRIEFING: Mixed News For London's IPO Market

LONDON (Alliance News) - Low-cost airline Wizz Air Holdings Monday pulled its planned initial public offering in London, blaming the recent volatility in airline stocks, but three other companies added themselves to the London IPO pipeline.

Wizz Air is the fourth co

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16 Jun 2014 11:16

UK WINNERS & LOSERS: Miners Gain As China's Premier Promises Support

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.
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FTSE 100 - WINNERS
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Fresnillo, up 2.3%, Glencore, up 2.0%, Anglo American

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16 Jun 2014 07:38

Horse Hill Companies Rise As Work Starts On First Well Site

LONDON (Alliance News) - Solo Oil PLC, Stellar Resources PLC, Doriemus PLC and UK Oil & Gas Investments PLC all saw their shares rise early Monday after saying that the operators of the Horse Hill oil and gas prospect in the Weald Basin near Gatwick Airport had stared building the site for the Ho

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22 May 2014 11:13

Aminex And Solo Oil Complete 2D Seismic At Ntorya-1 In Tanzania

LONDON (Alliance News) - Aminex PLC and Solo Oil PLC Thursday said that 2D seismic studies to appraise part of their Ntorya-1 discovery at the Ruvuma Licence in Tanzania have been completed and processing has started. The oil and gas exploration and development companies said the overall pr

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22 May 2014 10:38

Solo Oil and Aminex complete 2D seismic acquisition

Oil and gas exploration group Solo Oil has completed a 2D seismic programme to appraise the 'up-dip' portion of the Ntorya discovery, in Tanzania. The group announced on March 27th that a programme of 2D seismic was planned in the Ntorya field of the onshore Ruvuma Petroleum Sharing Contract. This

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16 May 2014 11:46

Solo Oil, Stellar Resources, Doriemus And UK Oil & Gas Investments Say Horse Hill-1 On Schedule

LONDON (Alliance News) - Solo Oil PLC, Stellar Resources PLC, Doriemus PLC and UK Oil & Gas Investments PLC Friday announced that the Horse Hill-1 well is on schedule to go into test production during July towards planned completion in August. The four oil and gas exploration and developmen

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12 May 2014 14:47

DIRECTOR DEALINGS: Solo Oil CEO Buys Three Million shares

LONDON (Alliance News) - Solo Oil PLC Monday said that Chief Executive Officer Neil Ritson bought three million shares at an average price of 0.175 pence per share. Ritson now holds a total of 33 million shares, representing a 0.717% shareholding in the company. Solo Oil shares were u

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8 May 2014 16:49

DIRECTOR DEALINGS: Solo Oil Executive Director Buys Shares

LONDON (Alliance News) - Solo Oil PLC said Executive Director Neil Ritson bought 9 million shares at an average price of 0.16 pence per share on Thursday. The oil and gas exploration and development company said Ritson now holds 30 million shares in the company. Solo Oil shares closed

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29 Apr 2014 13:20

Solo Oil Pretax Loss Widens On Expenses, Impairments

LONDON (Alliance News) - Solo Oil PLC Tuesday said it widened its pretax loss for the 18 months ending December 31 compared to the previous year as increased administrative expenses and impairment charges hit the company. The oil and gas exploration and production company with assets in the

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16 Apr 2014 22:30

This Is A Test From Alliance News

LONDON (Alliance News) - This is a test from Alliance News. Please ignore. Copyright 2014 Alliance News Limited. All Rights Reserved.

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