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Solo Oil raises fresh funds from institutional investor

Fri, 16th Sep 2016 12:56

(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-2 well in Tanzania and settle all outstanding amounts due to YA Global Master under an Equity Swap Agreement, which was now terminated.Neil Ritson, Solo's Chairman, commented: "The Company is now funded for its share of the estimated dry-hole costs for the upcoming high impact Ntorya-2 appraisal well in Ruvuma Basin, Tanzania. We look forward to further updates from the operator Aminex as we near the expected spud date during the fourth quarter of this time."As of 1537 BST shares in the outfit were falling by 6.12% to 0.23p giving the company a market capitalisation of £14.88m.
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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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