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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 ?

skinny - 06 Jan 2012 08:16 - 226 of 351

Harry - as posted somewhere up the thread - I've more than had my money back on these and RRL - so its a free - albeit fairly small free ride.

skinny - 10 Jan 2012 07:13 - 227 of 351

SOLO OIL PLC
("Solo" or the "Company")
Ntorya-1 Drilling Update


Solo Oil plc today provides an update on the drilling of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania.

The well was spudded on the 22 December 2011 and subsequently set 20" casing at 125 metres before drilling to 548 metres where a 13 3/8" casing has been set in Miocene claystones.

After installation of the top drive to the rig the well is now drilling ahead in a 12 1/4" hole at a depth of 620 metres and is expected to set a further casing at a depth of approximately 1,600 metres before drilling on to the target. The target interval is expected at a depth of approximately 1,800 to 1,900 metres and is expected to reach total depth in late January 2012.

The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north. As previously announced, Solo estimates that the Ntorya Prospect has a probability of success of around 25%, with mean recoverable resource potential of 100 million barrels of oil equivalent.

Partners in the well are:

Ndovu Resources Ltd (Aminex) 56.25% (operator)
Tullow Tanzania B.V. 25%
Solo Oil plc 18.75%

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 - 18 Jan 2012 12:09 - 228 of 351

A bit of life here today.



skinny - 19 Jan 2012 08:28 - 229 of 351

And again today.

Adacol - 23 Jan 2012 15:17 - 230 of 351

Moving up again.......there are rumours flying about that AEX has hit oil at Ntorya-1??

skyhigh - 23 Jan 2012 21:16 - 231 of 351

cool!

skinny - 24 Jan 2012 12:52 - 232 of 351

SOLO OIL PLC
("Solo" or the "Company")
Operational Update, Canada

Solo Oil plc today announces an update on activities in South Western Ontario, Canada operated by its Joint Venture partner Reef Resources Limited ("Reef").

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

January 24, 2012 - Calgary, Alberta - Reef Resources Ltd. ("Reef" or the "Company") reports that significant progress has been made on a number of field activities associated with the ongoing development of the Ausable Field Gas Recycling and Enhanced Oil Recovery ("EOR") project.

The recently spudded North Airport #1 exploration well, being drilled using a cable drilling rig, is currently drilling ahead towards intermediate casing below a surface casing which was set at 51 metres. The well is expected to reach intermediate casing point by mid-February and to reach TD at 608 metres by early March.

The venturi pump has been successfully installed in the Ausable #5 well as planned and is being commissioned. The commissioning and flow rate stabilisation phase is expected to take a further 10 to 14 days after which an update will be given. Ausable #1 well continues to produce at rates up to 30 bopd, however, production rates have been choked back until the gas injection phase of the EOR is underway.

In field flow-line construction to the Ausable #2 well is underway to allow that well to be connected to the venturi pump system. An additional pump skid is being constructed and is due to be delivered in February after which all four existing wells (A#1, 2, 4 and 5) will be hooked up to the central processing facility. Well #3 will continue to be used for gas re-injection in the short term prior to a recompletion program which is planned to isolate the shallowest interval Ausable #1. This will allow gas re-injection in to the optimum zone at the highest point and geological centre of the Ausable reef.

Road and creek bores for the pipeline to tie-in the South Airport #1 well started on the January 23 and the remaining trenching and welding will take three to four weeks to complete. The South Airport well will provide additional liquids rich equity natural gas to the EOR scheme at low cost. It is also hoped that additional gas will come from North Airport reef and in addition Union Gas will complete the meter reversal in February so that Ausable can receive utility gas to supplement the available gas supply from the Ausable and Airport reefs.

Arnie Hansen, Reef President commented: "We have been making very substantial progress so far this year, however, January and February are typically the worst weather months and although current forecasts are moderate some delays may occur. We look forward to making a further update in the coming weeks."

Additionally, Reef has received an in place oil redetermination report from Nutech Energy Alliance of Texas, USA. Using the available five wells, detailed petrophysical analysis and correlation with the 3D seismic data, Nutech have calculated a STOIIP of 8.9 mmbbls. This represents a 10% increase over previous estimated made prior to the drilling of the Ausable #5 well. The report recommends that a more detailed assessment of the reserve potential should be undertaken.

Neil Ritson, Solo Executive Director, commented;

"Appreciable progress has been made with the project so far this year including the increase in the oil-in-place resources providing further support for our investment case. The final reserves will depend on the details of the gas cycling scheme, however, based on analogous fields in Nortern Alberta, such as the Golden Spike Field, recovery factors in excess of 70%, and potentially as high as 90%, may be expected."

skyhigh - 24 Jan 2012 19:06 - 233 of 351

?

skinny - 27 Jan 2012 07:10 - 234 of 351

SOLO OIL PLC
("Solo" or the "Company")
Ntorya-1 Drilling Update


Solo Oil plc today provides an update on the drilling of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania operated by Ndovu Resources Ltd (a subsidiary of Aminex).

The well was spudded on the 22 December 2011 and has been drilled to 1,535 metres where an intermediate casing string has been set. The well is now drilling ahead towards the target interval of approximately 1,800 to 1,900 metres depth. The well is expected to reach total depth around the end of January.

The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north. Solo estimates that the Ntorya Prospect has a probability of success of around 25%, with mean recoverable resource potential of 100 million barrels of oil equivalent.

Partners in the well are:

Ndovu Resources Ltd 56.25% (operator)
Tullow Tanzania B.V. 25%
Solo Oil plc 18.75%

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.

gibby - 27 Jan 2012 07:17 - 235 of 351

Bit of south movement here today then?

skyhigh - 27 Jan 2012 07:25 - 236 of 351

Probably

skinny - 01 Feb 2012 07:05 - 237 of 351

01 February 2012

For Immediate Release

1 February 2012

Solo Oil plc

('Solo' or 'the Company')

Issue of Equity

Solo today announces that it has issued and allotted 115,384,615 new Ordinary Shares of 0.01p each at a price of 0.65p per share pursuant to a drawdown of GBP750,000 from the three year GBP10 million Equity Line Facility with Dutchess Opportunity Cayman Fund Ltd.

These additional funds will be used for capital to increase production in Canada, develop the recently announced Mina El Carmen block in Argentina and further potential cash commitments for Tanzania depending on the results of the current well being drilled.

The Application will be made for the new ordinary shares to be admitted to trading on the AIM Market. The new ordinary shares will rank pari passu with the existing ordinary shares in the Company and trading of these shares on AIM is expected to commence on or around the 7 February 2012.

Following admission of the new Ordinary Shares to trading on AIM, the Company's issued share capital consists of 2,519,831,283 Ordinary Shares with a nominal value of 0.01p each, with voting rights ("Ordinary Shares"), and 265,324,634 deferred shares of 0.69p each. The deferred shares are non-voting, are not admitted to trading on AIM and are not entitled to any participation in the profits or the assets of the Company. The Company does not hold any Ordinary Shares in Treasury. Therefore the total number of Ordinary Shares in the Company with voting rights is 2,519,831,283.

The above figure of 2,519,831,283 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

skinny - 07 Feb 2012 07:12 - 238 of 351

RNS Number : 9099W

Solo Oil Plc

07 February 2012

For Immediate Release, 7 am

7 February 2012

SOLO OIL PLC

("Solo" or the "Company")

Ntorya-1 Drilling Update

Solo Oil plc today provides an update on the drilling of the Ntorya-1 exploration well in the Ruvuma Petroleum Sharing Agreement ("PSA") area onshore in Tanzania.

The well was spudded on the 22 December 2011 and is now at a depth of 2,500 metres. Sandstone reservoirs were not encountered as originally prognosed at depths between 1,800 to 1,900 metres, however sandstones were encountered at depths from 2300 metres to the current depth, over which minor gas shows were also observed.

Wireline logs and a seismic check-shot survey are now being recorded in order to evaluate the section already drilled and to determine if additional drilling is worthwhile.

The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north.

Neil Ritson, Solo Executive Director, commented;

"Ntorya is only the second recent well in the onshore portion of the Ruvuma basin in Tanzania and we are clearly still establishing the accurate correlation between the seismic and well stratigraphy. Additional evaluation of these well results will I am sure be key in helping to unlock the potential for the Tertiary and Cretaceous hydrocarbon plays within the PSA."

Partners in the well are:

Ndovu Resources Ltd (Aminex) 56.25% (operator)
Tullow Tanzania B.V. 25%
Solo Oil plc 18.75%

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.

HARRYCAT - 07 Feb 2012 08:23 - 239 of 351

Hope you didn't get burnt, skinny? This was always very high risk, imo.

skinny - 07 Feb 2012 08:31 - 240 of 351

No Harry - as I said before, the shares I have left are free because I sold half when they doubled and then half when they doubled again - so a freebie (and fairly small).

jeffmack - 07 Feb 2012 10:10 - 241 of 351

Dont you just hate it when your spudding comes up short

required field - 07 Feb 2012 10:14 - 242 of 351

If you haven't enough for chips or cook them too much : mashed potato it is !....pommes de terre...pommes de terre as Delboy might put it !....blinkin' geologist or that bloke with the 'ology or whatever : deserves a night out with a geezer in the fridgefreezer ......

ipwil - 10 Feb 2012 14:49 - 243 of 351

Drill and pray?

Damn I was so tempted to buying at 51 yesterday, then I thought overwhelming selling could follow into today, but positive buying in the morning put a dampener on that..... Some people already in the know getting some early buying in before the announcement??

poo bear - 10 Feb 2012 14:57 - 244 of 351

whats in a fraction of a penny, you either want them or you dont.

ipwil - 10 Feb 2012 17:47 - 245 of 351

not when they might be 45p by the end of the day, my strategy was set and I stuck to it, I lose out but my risk was lower than 50p
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