16 Feb 2017 08:11
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Don't have an account? Click here to register.Solo Oil raises £2m to fund joint venture commitments
Thu, 16th Feb 2017 12:38
(ShareCast News) - Solo Oil announced on Thursday that it raised £2m before expenses through a company-sponsored placing of 400 million new ordinary shares of 0.01p, at a price of 0.5p per placing share, representing approximately 5.7% of the issued share capital prior to admission of the placing shares.The AIM-traded firm said the net proceeds from the placing would be used to fund the company's share of the imminent well-testing programme for the recently drilled Ntorya-2 appraisal in Tanzania, and the analysis of future development options for the Ntorya discovery, where Aminex is the operator.Solo holds a 25% working interest in the Ruvuma Petroleum Sharing Agreement and in the Ntorya gas and condensate discovery."The company is looking forward to the flow test results from the Ntorya-2 gas discovery in the coming weeks," said non-executive chairman Neil Ritson."Following the flow testing the joint venture partners will define the forward development programme for the Ntorya discovery and are expecting to apply for a 25-year development licence."
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17 Oct 2016 09:16
Horse Hill oil developers apply for further 'significant' drilling
(ShareCast News) - UK Oil & Gas and its partners in the Horse Hill Developments (HHDL) company drilling for oil close to Gatwick Airport, have applied for planning permission with Surrey County Council for a further round of drilling. The HHDL group, in which AIM peers Alba Minerals, Doriemus, Gunsy
Read more23 Sep 2016 14:28
Rig contract signed at Solo Oil investment
(ShareCast News) - Solo Oil has announced that it was informed on Friday, by the Ruvuma Petroleum Sharing Agreement operator Aminex, that a rig contract has now been signed for the drilling of the Ntorya-2 appraisal well in the Ruvuma basin. The AIM-traded firm said the Carol 2 drilling rig, which i
Read more16 Sep 2016 12:56
Solo Oil raises fresh funds from institutional investor
(ShareCast News) - Solo Oil succeeded in raising £2.0m from an institutional investor. The explorer sold 1,111,111,111 new shares, which were equal to 15.9% of its issued share capital, at a price 0.18p, which were placed with Epsilon Pty. Proceeds from the placing would be used to fund its Ntorya-
Read more21 Jul 2016 15:04
19 Jul 2016 12:02
Horse Hill oil in place estimates almost trebled
(ShareCast News) - The Horse Hill project in Surrey looks like providing a bonanza for the range of AIM-listed companies involved after a near trebling of oil in place estimates to 22.9m barrels per square mile. As announced in March, the final HH-1 test of the upper Portland pay zone flowed at a co
Read more5 Jul 2016 09:08
Horse Hill miners get lift from two year extension
(ShareCast News) - The Oil and Gas Authority has allowed licences at the Horse Hill development in Surrey to continue for another two years, giving a lift to several AIM-listed miners. Solo Oil, Regency Mines and Alba Mineral Resources all said licences PEDL137 and PEDL246 said the OGA had converted
Read more