- 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 ?
- 21 Sep 2011 14:53
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now where have i seen exactly those spelling mistakes before? ..... cielo? .... mrsi? .... certainly of that ilk
- 21 Sep 2011 14:54
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Bernard M -- are you a run away boy and wishing to comeback home?
American Joker says ............
Why did the little Greek boy run away from home?
He didn't like the way he was being reared.
- 21 Sep 2011 14:57
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Last post on this as I don't encourage people with spoach impodiments.
Look at this link (post 78) and you will see that I have been posting as skinny since the inception of MONEYAM and before that as Skinny on ADVFN and before that ...... etc.
- 21 Sep 2011 14:59
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cynic - check my post 192 - you missed one :-)
- 21 Sep 2011 16:25
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On the way up as the day reaches closing time, some are looking forward to tomorrow, usually with large volume there is more than one day trading higher
Stop being a TURKEY, though is part of the " Matthews" family behaviour
- 21 Sep 2011 16:43
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reachen lol. sounds like a pikey.
Did you paint this macho
- 22 Sep 2011 11:38
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Of some interest to SOLO ........
Total steps up hub plans in east Africa
September 21, 2011 5:07 pm - By Sylvia Pfeifer, Energy Editor
Total has acquired a stake in five offshore blocks in the Lamu Basin, off the Kenyan coast, as the French oil company steps up its plans for a development hub in east Africa, which has emerged as one of the industrys new oil and gas provinces.
Under the deal announced on Wednesday, Total will acquire separate stakes from Anadarko, the US company, Britains Cove Energy and Dynamic Global Advisors, for a total interest of 40 per cent in the five blocks.
Oil and gas Foreign investors fund ventures into risky terrain
Interest in offshore east Africa has gained momentum since last year when Anadarko and Cove made a large gas discovery off the coast of Mozambique. This was soon followed by further discoveries by BG Group off the coast of Tanzania.
The transaction is part of a bold exploration strategy that consists of acquiring large stakes in high-potential frontier plays, said Marc Blaizot, Totals senior vice-president of exploration.
Recent discoveries in offshore Mozambique and Tanzania offer a very promising outlook for these Kenyan permits, he added.
John Craven, Coves chief executive, said: The addition of a company of the calibre of Total to our Kenyan deepwater partnership marks an industry acknowledgement of the significant exploration potential in these blocks.
After the deal, Anadarko will hold a 50 per cent interest in the blocks, with Cove retaining 10 per cent. A 3D seismic survey is currently under way. If the results are satisfactory, one or more exploration wells will be drilled.
The agreement is further evidence of Totals ambition to create a new development hub around east Africa. The company is involved in a joint venture development with Tullow Oil and China National Offshore Oil Corporation to tap into Ugandas oil rich Lake Albert rift basin. Total also recently secured exploration rights in Tanzania.
The drive into east Africa is part of a wider push by the group to step up its exploration spend and target high-risk but high-reward projects, partly in recognition that most of the big discoveries in recent years have been made by independent oil and gas companies which are traditionally seen as more nimble.
Total expects to spend $2.1bn on exploration this year, compared with $1.8bn last year and $1.5bn five years ago.
Richard Griffith at Evolution Securities said the agreement was yet another indication of the industrys renewed enthusiasm for east Africa and specifically for Total yet further evidence of its renewed vigour to rebuild it exploration portfolio after admitting a year ago it had not been spending enough in this area.
Totals production growth forecasts will be in focus next week when the company holds an investor day. Analysts at HSBC said that with recent acquisitions and progress on new projects, they believe Total is capable of growing production at 2.8 per cent annually over 2010-2016.
- 27 Sep 2011 10:08
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going places today as volume is rising again after last week doing the same
moneyam - chart useless as ever, much the same as some posters
- 06 Oct 2011 10:31
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SOLO OIL PLC
("Solo" or the "Company")
Solo Oil plc today announces completion of the assignment of additional interests in the Ruvuma Basin PSA in Tanzania from Tullow Tanzania BV ("Tullow").
Further to the announcement on 8 September 2011, Tanzanian Government approval for the assignment of interest between Tullow and Solo has been received and the assignment has been completed. Solo now has a beneficial interest of 18.75% in the Lindi and Mtwara licences which jointly make up the Ruvuma PSA in onshore Tanzania.
Tullow has also confirmed that Ndovu Resources Limited, a subsidiary of Aminex plc, is now the operator of the PSA. Now that operatorship has been formally transferred; an update on the timing of the planned drilling of the Ntorya-1 well, anticipated to spud during November, is expected shortly.
- 06 Oct 2011 13:08
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was this share ipo at corn- HILL
- 07 Oct 2011 07:05
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Solo Oil plc today announces an update on activities at the Ausable Field in South Western Ontario operated by its Joint Venture partner Reef Resources Limited ("Reef") and recent test results from the Ausable #1 well, where 100 bopd have been achieved using a newly installed downhole venturi pump.
- 08 Nov 2011 08:21
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News soon on a couple of fronts.....lots of buying the last couple of days!
Last chance at 0.7p.
- 21 Nov 2011 07:35
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Tanzania Drilling Update
Solo Oil plc today announced detailed plans for the Ntorya-1 well in the onshore Ruvuma Basin Petroleum Sharing Agreement ("PSA") in Tanzania where the Company holds an 18.75% interest.
PSA operator Ndovu Resources Limited, a subsidiary of Aminex plc ("Aminex"), has advised that the Caroil-6 rig which has been contracted to drill the Ntorya-1 well is currently being mobilised and is expected on site by early December and will spud the well in mid December.
The Ntorya-1 well, the second well drilled by the joint venture, will be drilled in the Mtwara Licence and is targeting marine basin floor fans of Oligocene and Cretaceous age. Over 250 metres of sandstones of this age were identified in the Likonde-1 well drilled in 2010 which encountered both oil and gas shows. At the planned well location the Ntorya stratigraphic pinch-out trap is mapped to be approximately 200 metres up-dip of Likonde-1 and lies approximately 15 kilometres further south. The play being tested is geologically analogous with the deep water discoveries already made in the Ruvuma Basin.
As previously reported Solo estimates that the well has a probability of success for the discovery of commercial hydrocarbons (oil or gas) of approximately 20% and has mean recoverable resource potential of over 600 bcf of gas or 100 mmbbls of oil.
Site preparations have already been completed and drilling to a total depth of 2020 metres is expected to take 32 days.
Solo holds an 18.75% interest in the PSA. Partners Aminex and Tullow Oil Tanzania Limited hold 56.25% and 25% respectively.
- 25 Nov 2011 07:08
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interesting rns this morning
- 25 Nov 2011 07:11
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Solo Oil plc today announces that its Joint Venture partner Reef Resources Limited ("Reef") has secured additional funding through a private placement. This triggers the second tranche of funding from Solo and increases the Company's interest in the Ausable field development to 38.1%.
Reef has raised gross proceeds of CDN$1.69 million through the issue of shares and warrants in Reef.
Reef's announcement, to the Toronto exchange, states:
"The closing of this tranche of Brokered Private Placement will trigger Solo Oil Plc., an AIM listed company, to acquire an additional 14.3% Working Interest in Reef's Ontario properties for $1.5 million. Solo Oil Plc currently holds a 23.8% Working Interest.
The funds secured by Reef as a result of the Working Interest sale and Financing will be used to roll out of the successfully tested hydraulic venturi system in all producing wells at the Ausable field to increase production, to drill and complete additional well(s) in the producing Ausable pinnacle reef, tie-in an existing standing gas well in the Airport South reef, complete two additional bypass gas zones at the Airport well and, if required, acquire additional natural gas for re-injection into the Ausable reef.
The Company has successfully completed testing of the hydraulic venturi pump design in the Ausable # 1 well. Flow test results indicate an initial production rate of 63 bopd. Through the test period the Company obtained flow rates at various wellhead pressures to help model the production impact of gas re-pressurization. Under the EOR program, reservoir analysis and pressure data acquired to date indicates re-pressurization of the reservoir, in conjunction with the improved pumping system, will have a significant positive impact on overall field production and recovery factors. Further updates will be released as plans are confirmed and when further wells, including the Ausable #5, are placed on production.
The Company is additionally finalising a new reserves report for the Ausable reef and expects to release the results of that work shortly."
The initial production rate established at Ausable #1 well of 63 bopd is in the expected range (50-70 bopd) announced in early October and confirms the venturi pump systems is achieving the anticipated results. Once the field is re-pressurised high production rates will be possible. With the necessary funding now in place for the additional work, Solo will increase its interest in the field to 38.1% and anticipates agreeing a detailed program and budget for 2012 shortly. The deployment of venturi pumps to wells A#2, A#4 and A#5 will be a priority, along with the completion of the various tie-ins needed to inject gas into the reservoir to build and maintain pressure.
Neil Ritson, Solo Executive Director commented: "We are extremely pleased that Reef has raised the additional funds envisaged under the agreement with Solo announced on 11 July 2011. The programme of well tie-ins and gas injection can now be pursued which will result in a significant increase in production. Along with our enhanced knowledge of the reservoir, gained through studies conducted during 2011, we remain confident that the field will deliver to our expectations and will be a model for similar developments in the surrounding area."
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.
- 30 Nov 2011 08:36
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Annual Report and Accounts for the year ended 30 June 2011 and Notice of AGM
Solo Oil, the AIM listed International Oil and Gas Exploration and Development Company, announces that the Company's audited Annual Report and Accounts for the year ended 30 June 2011 have been posted to Shareholders , together with a Notice of Annual General Meeting ("AGM"), and both documents and a copy of this announcement will be available from the Company's website, www.solooil.co.uk.
The Annual General Meeting will take place at 11.00 am on Friday 16 December 2011 at Suite 3B, Princes House, 38 Jermyn Street, London SW1Y 6DN.
I am very pleased to present the Chairman's report for the year ended 30 June 2011. The year has seen substantial progress on implementing the program in out two existing assets and that work has been successfully continued through to the date of this report.
- 01 Dec 2011 07:44
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Investment in Argentina
Solo Oil plc is pleased to announce that it has entered into a binding Heads of Agreement with Obtala Resources plc ("Obtala") to acquire, subject to title and legal due diligence, Ilakon Limited ("Ilakon") a wholly owned Obtala subsidiary which holds the rights to the Mina El Carmen block ("the Block") in Argentina ("Investment").
A binding heads of agreement has been signed with Obtala in an all shares transaction valuing the Block at US$750,000
Solo will acquire Ilakon and its Argentinean subsidiary, Spinell Sociedad Anomima
,which holds a 100% interest of the 25 claims which make up the Block
The Block covers 4,940 acres on the northern side of the Golfo San Jorge basin close to numerous producing fields
The Block is lightly explored and has received only limited exploration work since the 1940's
Oil and gas shows have been recorded from wells on the Block and the shallow Glauconitico gas bearing reservoir , which produces in the nearby Salamancia gas field, 7 kilometres to the south, is considered proven
- 05 Dec 2011 07:16
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Tanzania Drilling Update.
SOLO OIL PLC
("Solo" or the "Company")
Tanzania Drilling Update
Solo Oil plc today announces an update on drilling of an exploration well, Ntorya-1, in the Mtwara Block of the Ruvuma Basin PSA ("PSA") in Tanzania with its partners Aminex plc ("Aminex") and Tullow Oil plc ("Tullow").
Aminex, operator of the PSA through its subsidiary Ndovu Resources Ltd, has advised that the Ntorya well site was completed in late October and that the rig accommodation has been fully installed. The Caroil-6 rig, contracted to drill the well, has been successfully barged to Mtwara port and is now in transit 30 kilometres by road to the site. Rig up is anticipated to take 12 days and the well is expected to spud around the third week of December 2011.
The Ntorya-1 well will be drilled to a depth of approximately 2026 metres and will test the Tertiary and late Cretaceous sandstone sequence identified in the Likonde-1 well previously drilled by the partners in the PSA 14 km to the north. The Ntorya-1 well is planned to take 30 days to drill.
Ntorya-1 is the second well in the PSA and continues an active exploration program targeting the same hydrocarbon play as has already been proved successfully offshore. Solo estimates the Ntorya prospect to have a mean unrisked potential resource of approximately 100 million barrels of oil or 600 billion standard cubic feet of gas, and a chance of success of 1 in 4.
Solo holds an 18.75% interest in the PSA, with Aminex holding 56.25% and the balance (25%) held by Tullow.
- 13 Dec 2011 07:07
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RNS Number : 8301T
Solo Oil Plc
13 December 2011
13 December 2011
Solo Oil plc
('Solo' or 'the Company')
Issue of Shares
Solo Oil plc today announces that further to the announcement on 11 November 2011 relating to the GBP10 million Equity Line Facility ("ELF") with Dutchess Opportunity Cayman Fund Ltd ("Dutchess"), the commitment fee payable under the ELF has been settled by the issue of 13.8 million new shares of 0.01p each to Dutchess.
Subsequent to the issuance of these shares the Company will have 2,345,124,624 ordinary shares in issue.
Application will be made for the 13.8 million new ordinary shares to be admitted to trading on AIM and these will rank pari passu with the Company's existing shares. Dealings of the new shares on AIM are expected to commence by 21 December 2011.
- 16 Dec 2011 14:53
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Operational Update, Canada
Solo Oil expects to report significantly higher production in 2012 following an operational update from its joint venture partner Reef Resources on operations at the Ausable field and surrounding area in south-west Ontario.
Reef's announcement to the Toronto exchange states that pipeline material and other field optimization components for bringing Ausable No.2, No.4 and No.5 wells on production are arriving on site and will be initially installed in Ausable No.5 and then rolled out to Ausabl No.2 and Ausable No.4.
Production from the upgraded pumping system will be commissioned as soon as they are connected to the Ausable facility.
The completion programme for the upper Guelph and A2 gas zones in the Airport South No.1 well is currently being drafted with expected recompletion in early 2012.
Natural gas from Airport South No.1 well will be used to re-pressurise the Ausable reef to further increase oil production.
Natural gas liquids produced from the Airport well plus the recycled gas from the producing Ausable wells will be processed at the Ausable facility and sold as condensate.
Solo executive director Neil Ritson said: "By bringing together the venturi pump system we have been testing at Ausable No.1 and the additional gas supply, Reef are able to move the project from proof of concept towards full production.
"This will occur over the next few months and we anticipate being able to report significantly higher production in 2012.
"This marks a turning point in the project and we are delighted to be increasing our interest to 38%."