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Solo Oil plc (LSE AIM: SOLO) is pleased to note the announcement made today by UK Oil & Gas Investments PLC as set out in Appendix 1 below.
As announced on 30 August 2018 the Company has agreed to enter into a conditional sale and purchase agreement ("SPA") to dispose of its entire 15% interest in Horse Hill Developments Limited ("HHDL") to UK Oil and Gas plc ("UKOG") for a total cash consideration of £4.5 million together with a simultaneous purchase of 234,042,221 new ordinary share in UKOG equivalent to a 4.2% interest in UKOG (together "the transaction").
The Company will provide a further update when the transaction closes.
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=SOLO&ArticleCode=8xv0ckfg&ArticleHeadline=Update_on_Horse_Hill_from_UK_Oil__Gas
UKOGa
2.1880 -0.0250 -1.15%
SOLO
2.3000 0.0000 0.00%
https://uk.investing.com
UKOGa
2.1950 -0.0350 -1.57%
SOLO
2.4000 +0.1900 +8.60%
https://uk.investing.com
UKOGa 2.4400 +0.0300 +1.24%
Solo Oil 2.4000 +0.1780 +8.01%
https://uk.investing.com
UKOGa 2.4400 +0.0300 +1.24%
Solo Oil 2.4000 +0.1780 +8.01%
https://uk.investing.com
Our system’s recommendation today is to BUY. The BULLISH ENGULFING pattern finally received a confirmation because the prices crossed above the confirmation level which was at 1.9000, and our valid average buying price stands now at 1.9030. The previous SELL signal was issued on 19/07/2018, 36 days ago, when the stock price was 2.3700. Since then 5414.L has fallen by -19.70%.
https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=5414.L
Table 2: Nutech’s Estimated Tight Jurassic Gross STOIIP for PEDL137 and PEDL246
Gross STOIIP, MMbbl
Low (P90)
Best (P50)
High (P10)
Mean
Kimmeridge Clay
1,949
5,230
8,881
5,355
Corallian
122
556
1,384
687
Oxford Clay
188
495
908
530
Oolite
410
1,544
3,352
1,769
Liassic Shale
462
1,420
2,994
1,625
Total *
3,131
9,245
17,519
9,965
* Arithmetic sum
Table 3: Schlumberger’s Summary of Estimated Gross STOIIP for PEDL137 and PEDL246
Formation
Mean STOIIP (MMbbl)
Kimmeridge Clay
8,262
Oxford Clay
1,017
Liassic Shale
1,714
TOTAL
10,993
http://www.ukogplc.com/page.php?pID=60
Table 2: Nutech’s Estimated Tight Jurassic Gross STOIIP for PEDL137 and PEDL246
Gross STOIIP, MMbbl
Low (P90)
Best (P50)
High (P10)
Mean
Kimmeridge Clay
1,949
5,230
8,881
5,355
Corallian
122
556
1,384
687
Oxford Clay
188
495
908
530
Oolite
410
1,544
3,352
1,769
Liassic Shale
462
1,420
2,994
1,625
Total *
3,131
9,245
17,519
9,965
* Arithmetic sum
Table 3: Schlumberger’s Summary of Estimated Gross STOIIP for PEDL137 and PEDL246
Formation
Mean STOIIP (MMbbl)
Kimmeridge Clay
8,262
Oxford Clay
1,017
Liassic Shale
1,714
TOTAL
10,993
http://www.ukogplc.com/page.php?pID=60
Realising Potential
“The Board of Solo leverages its extensive commercial and technical expertise with a hard focus on monetising its portfolio of investments and delivering value for its shareholders.”
Alastair Ferguson, Non-executive Chairman
http://www.solooil.co.uk/
Signal Update Our system’s recommendation today is to BUY. The BULLISH HARAMI pattern finally received a confirmation because the prices crossed above the confirmation level which was at 177.7500, and our valid average buying price stands now at 177.9500. The previous SHORT signal was issued on 15/08/2018, 2 days ago, when the stock price was 179.3000. Since then JOG.L has fallen by -0.75%.
https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=JOG.L
On 21 March 2016, UKOG reported that the final total aggregate stable dry oil flow rate from the two Kimmeridge Limestones plus the overlying Portland Sandstone was 1688 bopd:
The final Portland test of 323 bopd, over an 8.5-hour, period is the highest stable dry oil flow rate from any onshore UK Portland well. On further testing, with a larger pump, the rate doubled from the previously reported stable dry oil rate of 168 bopd. The Portland was produced at maximum pump capacity and showed no clear indication of depletion. It is likely that the rate can be further increased using a higher capacity downhole pump during the next planned test
Proof that the Kimmeridge limestones contain significant volumes of moveable light oil that can be flowed to surface at commercial rates
As previously reported, the stable, natural dry-oil flow rate of 464 bopd from the Lower Kimmeridge Limestone is the first ever flow from this rock unit in the Weald Basin and onshore UK
Based on the analysis of published reports from all significant UK onshore discovery wells, the Company concludes that the well’s 1688 bopd is likely to be the highest aggregate stable dry-oil flow from any onshore UK new field wildcat discovery well
Based on the analysis of published reports from all significant UK onshore discovery wells, the Company concludes that the 901 bopd from the Upper Kimmeridge zone is the highest stable natural dry oil flow rate from a single reservoir in any UK onshore new field wildcat discovery well
High quality Brent Crude produced: light, sweet oil (40 degrees API in Kimmeridge, 35-37 degrees API in Portland) 1,940 barrels delivered to the Esso Fawley refinery
Preliminary analysis confirms that the Lower and Upper Kimmeridge Limestone units are naturally fractured reservoirs with high deliverability
Strong possibility for further optimisation and increased flow rates from all 3 zones in future development and production wells, particularly through the use of horizontal wells.
http://www.ukogplc.com/page.php?pID=60
On 21 March 2016, UKOG reported that the final total aggregate stable dry oil flow rate from the two Kimmeridge Limestones plus the overlying Portland Sandstone was 1688 bopd:
The final Portland test of 323 bopd, over an 8.5-hour, period is the highest stable dry oil flow rate from any onshore UK Portland well. On further testing, with a larger pump, the rate doubled from the previously reported stable dry oil rate of 168 bopd. The Portland was produced at maximum pump capacity and showed no clear indication of depletion. It is likely that the rate can be further increased using a higher capacity downhole pump during the next planned test
Proof that the Kimmeridge limestones contain significant volumes of moveable light oil that can be flowed to surface at commercial rates
As previously reported, the stable, natural dry-oil flow rate of 464 bopd from the Lower Kimmeridge Limestone is the first ever flow from this rock unit in the Weald Basin and onshore UK
Based on the analysis of published reports from all significant UK onshore discovery wells, the Company concludes that the well’s 1688 bopd is likely to be the highest aggregate stable dry-oil flow from any onshore UK new field wildcat discovery well
Based on the analysis of published reports from all significant UK onshore discovery wells, the Company concludes that the 901 bopd from the Upper Kimmeridge zone is the highest stable natural dry oil flow rate from a single reservoir in any UK onshore new field wildcat discovery well
High quality Brent Crude produced: light, sweet oil (40 degrees API in Kimmeridge, 35-37 degrees API in Portland) 1,940 barrels delivered to the Esso Fawley refinery
Preliminary analysis confirms that the Lower and Upper Kimmeridge Limestone units are naturally fractured reservoirs with high deliverability
Strong possibility for further optimisation and increased flow rates from all 3 zones in future development and production wells, particularly through the use of horizontal wells.
http://www.ukogplc.com/page.php?pID=60
On 21 March 2016, UKOG reported that the final total aggregate stable dry oil flow rate from the two Kimmeridge Limestones plus the overlying Portland Sandstone was 1688 bopd:
The final Portland test of 323 bopd, over an 8.5-hour, period is the highest stable dry oil flow rate from any onshore UK Portland well. On further testing, with a larger pump, the rate doubled from the previously reported stable dry oil rate of 168 bopd. The Portland was produced at maximum pump capacity and showed no clear indication of depletion. It is likely that the rate can be further increased using a higher capacity downhole pump during the next planned test
Proof that the Kimmeridge limestones contain significant volumes of moveable light oil that can be flowed to surface at commercial rates
As previously reported, the stable, natural dry-oil flow rate of 464 bopd from the Lower Kimmeridge Limestone is the first ever flow from this rock unit in the Weald Basin and onshore UK
Based on the analysis of published reports from all significant UK onshore discovery wells, the Company concludes that the well’s 1688 bopd is likely to be the highest aggregate stable dry-oil flow from any onshore UK new field wildcat discovery well
Based on the analysis of published reports from all significant UK onshore discovery wells, the Company concludes that the 901 bopd from the Upper Kimmeridge zone is the highest stable natural dry oil flow rate from a single reservoir in any UK onshore new field wildcat discovery well
High quality Brent Crude produced: light, sweet oil (40 degrees API in Kimmeridge, 35-37 degrees API in Portland) 1,940 barrels delivered to the Esso Fawley refinery
Preliminary analysis confirms that the Lower and Upper Kimmeridge Limestone units are naturally fractured reservoirs with high deliverability
Strong possibility for further optimisation and increased flow rates from all 3 zones in future development and production wells, particularly through the use of horizontal wells.
http://www.ukogplc.com/page.php?pID=60
A more hard edge focus to commercialising the assets and in joint venture management a harder edged approach
COLUMBUS ENERGY RESOURCES
Last Signal:BUY
Last Pattern:BULLISH ENGULFING
Last Close:4.6500 Change:+0.2000 Percent change+4.49% Signal Update Our system’s recommendation today is to BUY. The BULLISH ENGULFING pattern finally received a confirmation because the prices crossed above the confirmation level which was at 4.4500, and our valid average buying price stands now at 4.4600. The previous SELL signal was issued on 17/07/2018, 10 days ago, when the stock price was 4.8945. Since then CERP.L has fallen by -8.88%.
https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=CERP.L
Yes, it will be useful to see what are his plans going forward.
Solo Oil
"More changes at Solo as has been telegraphed lately as Alastair Ferguson joins the board and will become Chairman on 6th August. Neil Ritson will leave the board that day and remain only as a technical advisor. This signals the very serious approach I mentioned when Jon Fitzpatrick joined the board recently as Ferguson has very heavyweight credentials from BP, TNK BP, Zoltav Resources and JKX Oil & Gas. A leading player in the industry today told me that Ferguson has ‘forgotten more about gas than most people ever learn’.
The transformation continues at Solo where I get the distinct impression that nothing is sacred and everything is on the table which should bode very well for shareholders in coming months. I suspect that this board is going to get things done and at a rapid pace especially following the canny deal by Aminex recently shines the spotlight on the Ruvuma asset…"
https://www.malcysblog.com/
JUST UPDATED SINCE I POSTED!!
SOLO OIL
Last Signal:STAY LONG
Last Pattern:BEARISH ENGULFING
Last Close:2.3500 Change:-0.1000 Percent change-4.08% Signal Update Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 24/07/2018, 1 day ago, when the stock price was 2.4040. Since then SOLO.L has fallen by -2.25%