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TPDC to join Solo Oil at Kiliwani North

Mon, 05th Oct 2015 10:36

(ShareCast News) - Solo Oil's stake in the Kiliwani North Development Licence will be pared back slightly as Tanzania Petroleum Development Corporation (TPDC) buys in to the licence.The AIM-listed company announced on Monday that its interest will drop from 6.5% to 6.175% as TPDC looks for a 5% working interest as a fully paying partner.The deal is subject to TPDC paying the existing joint venture partnership a 5% pro-rata share of the development capital spent to date.Solo Oil chairman Neil Ritson said: "Solo is delighted that TPDC have chosen to exercise their back-in rights which will further increase their alignment with the partnership developing Kiliwani North. We continue to anticipate reaching final agreement on the gas sales agreement shortly and gas sales revenues commencing soon after."The company expects the Kiliwani North 1 well will produce up to 30m feet per day of gas, which will provide Solo Oil's first revenues from its investments in Tanzania.At 1208 BST, Solo Oil share were up 4.5% to 0.428p.
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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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