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Solo Oil could go So high ! (SOLO)     

skyhigh - 19 Oct 2009 08:28


From the Financial Times this weekend

Solo Oil , which is chaired by David Lenigas, rose 15.4 per cent to 0.75p on talk it was close to announcing its first deal.

I'm on board this morning..good story developing here (imho) ... onwards and upwards... anyone else in ?

the manageress - 12 Aug 2011 14:01 - 181 of 429

Could it be the ban imposed on short selling imposed by European financial market regulators.????//

grannyboy - 12 Aug 2011 16:21 - 182 of 429

the manageress, the shorting bans only on Banks i believe??, but news is due? so could be Monday Reef who's the operator trades on the TSX Canadian stock market..

dreamcatcher - 12 Aug 2011 17:21 - 183 of 429


Todays news coverage by Proactive Investors included a report on Solo Oil (LON:SOL) which saw its shares rally over 25 per cent or 0.25 pence to 1.23 pence by mid-afternoon. Shares in Solo were driven by speculation on bulletin boards that the company is about to reveal some good news from its Ausable No 5 well onshore Ontario.

On 4 August the company said significant progress was being made by its joint venture partner Reef Resources (CVE:REE) on determining flow rates at Ausable Nos 5 well.

Reef has been seeing variable oil flow volumes at the well.

In the 4 August statement, the company noted that the Ausable field had been shut in for a period of time to provide fluid level and pressure build up data that is necessary to determine Ausable No 5s likely flow rate.

Bulletin boarders today were speculating a positive statement on Ausable No 5 could be put out by the two companies this afternoon or on Monday.

dreamcatcher - 14 Aug 2011 00:52 - 184 of 429

skinny - 01 Sep 2011 07:41 - 185 of 429

RNS Number : 3948N

Solo Oil Plc

01 September 2011

Immediate Release, 7 am

1 September 2011

Solo Oil plc


Operations Update Ausable Field

Solo Oil plc today announces further progress on the Ausable Field in South Western Ontario by its Joint Venture partner Reef Resources Limited ("Reef"). Reef has released a statement giving an update on the progress of operations in the Ausable Field including improved pumping operations and the successful removal of the obstructions for Ausable # 2.

Reef's announcement, to the Toronto exchange, reads:

August 29, 2011 - Calgary, Alberta - Reef Resources Ltd. (REE - TSX.V) ("Reef" or the "Company") announces that the Company plans to install a hydraulic venturi downhole pump in well Ausable # 5. This proven oilfield technology, replacing conventional bottomhole pumps with venturi units, is currently being installed and tested on the Ausable #1 well. The hydraulic unit is designed to operate efficiently with the light oil and condensate currently being produced from the Ausable reef and will provide optimum production flow rates. It is anticipated that the hydraulic pumping units will also be installed in Ausable # 2 and Ausable # 4 over the course of the next two months.

Following the installation of the venturi pump in Ausable # 5 the Company will be in a position to accurately report production flow rate in addition to production potential with the previously announced Enhanced Oil Recovery (EOR) and cyclic natural gas liquids (NGL's) program. Under the EOR program, reservoir analysis and design work to date indicates re-pressurization of the reservoir will have a significant positive impact on overall field production and recovery factors. Results and updates of the Company's optimization program and implementation of the cyclic gas EOR program will be released once fully operational.

Reef is also pleased to announce that two of the three frac tools from the Ausable #2 horizontal well have been successfully recovered. Approximately 75% of the productive zone is now open. Additional fishing operations are not viewed as cost effective and the Company will be moving forward with wellbore clean up and flow testing. A further announcement will be made once the well is on stream.

Arnie Hansen stated, "We continue to view Ausable # 5 very positively and the Company's engineering and operations team is working diligently to increase production by implementation of the venturi pumping system followed by the re-pressurization of the reef and commissioning of the EOR and NGL program. There are numerous analogous fields where these types of optimization efforts have successfully yielded significant increases in production once in operation."

Neil Ritson, Solo Executive Director, commented:

"Establishing the optimum technologies for sustainable production at Ausable is a major part of the programme and we are pleased that Reef has made some significant advances. The final completion of wells #2 and # 5 and the commencement of EOR operations are both important milestones in our investment and we look forward to a further update shortly."

Competent Person's Statement:

The information contained in this announcement has been reviewed and approved by Neil Ritson, Chief Executive Officer and Director for Solo Oil Plc who has 35 years of relevant experience in the oil industry. Mr. Ritson is a member of the Society of Petroleum Engineers, an Active Member of the American Association of Petroleum Geologists and is a Fellow of the Geological Society of London.

skinny - 08 Sep 2011 07:34 - 186 of 429

For Immediate Release, 7 am

8 September 2011


("Solo" or the "Company")

Tanzania Update

Solo Oil plc is today announcing an update on its plans for the drilling of an exploration well, Ntorya-1, in the Mtwara Block of the Ruvuma Basin PSA in Tanzania with its partners Tullow Oil plc (LSE:TLW) ("Tullow") and Aminex plc (LSE:AEX) ("Aminex").

Further to the announcement on 7 June 2011, plans for the Ntorya-1 well have now been finalised with the all major services tendered and the Caroil-6 rig mobilisation agreed to follow the current Aminex well Nyuni-2. The well will most likely be spudded in early November and is programmed to take 25 days to drill to a planned TD of 2026 metres.

Solo is also pleased to announce that it has increased its stake in the Ruvuma Basin PSA from 12.5% to 18.75% in an agreement with Tullow in which Solo will assume the future obligations on the additional interest. Both Solo and Aminex have acquired additional interests in the PSA and Aminex will take over as operator from Tullow with immediate effect. Tullow will retain a 25% interest and will continue to support the joint venture with regional expertise and logistics.

The assignment is subject to final Tanzanian Government approval, which is expected to be granted shortly.

Solo Executive Director Neil Ritson commented;

"The Ntorya-1 well, which is a follow up to the Likonde-1 well drilled in 2010, is an important further test of the largely unexplored onshore Ruvuma Basin. Both Solo and Aminex have a strong focus on Tanzania and by gaining a greater participation in the PSA will jointly be able to advance the work programme more quickly. The long term potential is significant and we are very keen to continue the work started at Likonde as soon as possible."

machoman - 21 Sep 2011 09:57 - 187 of 429

now 0.875p +0.13p +17.4%

What a funny world, yesterday MMs marking the stock down on large spread for no reason,
this morning marking it up and now a roller coaster with volume 33M

nobody knows anything but most likely the update is round the corner

skinny - 21 Sep 2011 09:59 - 188 of 429

Nice to see an open candle - although the volume is nothing special.


machoman - 21 Sep 2011 10:28 - 189 of 429


re - volume is nothing special.

Is only if you are looking at the right things and taking notice of the time of the day.

one thing is only 2 hours gone from starting of trading and usually is 8 hours on my count,
so if 40M is multiply by 4 it makes 160M by the end of the day.
does it look any better now?

It seems you are comparing volume when the share price more than double from 0.45p to 1.10p.


skinny - 21 Sep 2011 10:35 - 190 of 429

46 million traded is @395,600 worth - and about 1.9%of total shares (2,331.32m) in issue.

machoman - 21 Sep 2011 13:20 - 191 of 429

someone is editing above

they are on the way up again after earlier profit taking and the pause


no much is working properly at " moneyam " and over her is the charts

skinny - 21 Sep 2011 13:33 - 192 of 429

machoman/cielo/rococo/master RSI - yes I edited the value of shares traded as I had the decimal point wrong in my original calculation. Btw this was before your edit of post 189.

I still hold these - but as I've stated up the thread, what I have are free. I still maintain that the volume - now a whopping 55 million, is hardly out of the ordinary - both your chart and mine show this - merely stating facts.! :-)

machoman - 21 Sep 2011 13:56 - 193 of 429

"skinny" maybe you need to eat more and get FAT

shouting loud it will get you nowhere, it seems you need more body

re - but as I've started up the thread

And I thought is was " skyhigh ", maybe it was when you were "high" on drugs ( cocaine, LSD, marihuana or was something else)

re - I still hold these

you must be stupid or something, anyone with a bit of brain, would have put a stop loss and sell anything below 1.60p

If you must know I trade the stock, the stock market has not been good enough to hold with the economy in such a mess for sometime now.

Maybe is because I have more experience than you, on live, markets and naturally age.

What you say on the TOP thread is from the newspaper not your research, enough said about you.

Bernard M - 21 Sep 2011 14:02 - 194 of 429

Pity your spelling is not up to Skinny's standard.

skinny - 21 Sep 2011 14:04 - 195 of 429

I know English (to some) is a complicated language, so here goes - last try.

I said 'stated up the thread' - not 'started up the thread'.

The shares I have left are free because I sold half when they doubled and then half when they doubled again - not bloody rocket science!

Unfortunately I can't understand your last few sentences so can't (be bothered to) reply. :-)

machoman - 21 Sep 2011 14:22 - 196 of 429


editing again.......... and LIER now

I copied and paste your frase, I allways do, so do not come up with excuses now
Iit is not very good english ..........stated up the thread

you will never win with me cos I go with the truth and you are NOT, as easy as that.

You have just shoot yourself on the foot

re - I know English (to some) is a complicated language

it is for some, if like me is not their mother language, but English is not the problem but the lies and need of undertanding how market work is for you and plenty more.

never forget we are talking business not english and when someone reach to that point it means they lost their point

Bernard M - 21 Sep 2011 14:26 - 197 of 429

God machoman you need to go back to school, your English spelling is abominable. are you Greek.

skinny - 21 Sep 2011 14:27 - 198 of 429

Master RSI - ROFLMAO - Paranoia AND delusions of grandeur - what a mix :-)

machoman - 21 Sep 2011 14:42 - 199 of 429

skinny - not any longer - skyhigh

re - delusions of grandeur

GOOD for me, many thanks

I can say you are a LIER and cought with the trousers down ........... lucky you that the " Bernard M " greek man was not about say one American Joker

Bernard M - 21 Sep 2011 14:45 - 200 of 429

Are you joking with your spelling mistakes, no one could be that thick, not even the Pikey's of Dale Farm.
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