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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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29 Apr 2015 10:05

UKOG's Gatwick oil project on hold as company awaits regulatory approval

UK Oil and Gas Investments (UKOG) has been stopped from drilling oil at Horse Hill, near Gatwick, The Telegraph reported late Tuesday. The project has been suspended since the company has not directly applied to the regulator, the Oil and Gas Authority (OGA), for permission to begin flow testing the

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29 Apr 2015 08:23

Solo Oil Exchanges Pan Minerals Oil Stake For One In Burj Petroleum (ALLISS)

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29 Apr 2015 05:47

PRESS: Horse Hill Project Suspended Amid Permit Confusion - Telegraph

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28 Apr 2015 06:59

Horse Hill Companies Apply For License Extension, Cool Speculation

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15 Apr 2015 07:12

UK Oil & Gas Seeks To Cool Speculation About Weald Basin Discovery

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14 Apr 2015 14:51

Solo Oil Raises GBP2 Million From Placing For Horse Hill, Tanzania (ALLISS)

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13 Apr 2015 07:25

UK Oil & Gas Investments Buys Full Ownership Of Weald Basin License

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9 Apr 2015 16:19

LONDON MARKET CLOSE: FTSE 100 Retakes 7,000 As Greece Meets Deadline

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9 Apr 2015 12:00

UPDATE 1-Oil find near Gatwick airport boosts UK's oil production hopes

(Adds details) LONDON, April 9 (Reuters) - A small British oil producer said it had discovered a possible world class oil resource in the countryside to the south of London that could contain billions of barrels of oil. The London-listed oil explorer UK Oil & Gas Investments (UKOG) sa

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9 Apr 2015 11:53

LONDON MIDDAY BRIEFING: Horse Hill Well Brings North Sea To Surrey

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9 Apr 2015 11:50

CORRECT: UPDATE: Horse Hill Stocks Rise On Significant Oil Find In Surrey

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9 Apr 2015 11:39

London midday: Stocks advance as M&A speculation boosts Burberry and IHG

UK stocks advanced on Thursday despite some mixed economic data, as ongoing M&A speculation and easing concerns about Greece drove markets higher. London's FTSE 100 was up 0.76% at 6,989.91 by noon despite weakness in the heavyweight mining sector, as bid hopes boosted stocks such as Burberry and In

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9 Apr 2015 10:57

UPDATE: Horse Hill Stocks Rise On Significant Oil Find In Surrey

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9 Apr 2015 10:46

WINNERS & LOSERS: Miners Drag FTSE 100 On Credit Suisse Downgrades

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9 Apr 2015 07:46

AIM explorers hail 'significant' oil discovery in Horse Hill, Southern England

Small cap oil exploration firm UK Oil & Gas Investments (UKOG) has made a 'significant' oil discovery in the South of England, said to be the largest onshore find in the country for 30 years. Other companies with interests in the Horse Hill licences, which cover 55 square miles of the Weald Basin, i

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