Scirocco Energy (LSE:SCIR)
Historical Stock Chart

From May 2019 to May 2024

TIDMSOLO

RNS Number : 0813J

Solo Oil Plc

01 April 2015

FOR IMMEDIATE RELEASE, 7 am 1 April 2015

SOLO OIL PLC

("Solo" or the "Company")

Update Kiliwani North Development, Tanzania

The Company has been informed by operator Aminex plc that the Tanzanian Petroleum Development Corporation ("TPDC") have formally reported that the regional pipeline connecting Dar es Salaam to Mnazi Bay is now complete and that hydrostatic pressure testing will begin shortly. The construction of the processing plant on Songo Songo Island is reported by TPDC as approximately 95% complete and it is expected that commercial production of gas from Kiliwani North will commence late in the first half 2015 with stabilized production rates achieved during the third quarter 2015.

Neil Ritson, Solo's Chairman, commented:

"The project remains on track for first commercial sales in the mid-year and once the gas sales agreement comes into force we will consider our option to double our interest in the project from 6.5% to 13%."

For further information:

 
 Solo Oil plc 
  Neil Ritson 
  Fergus Jenkins                   +44 (0) 20 7440 0642 
 
 Beaumont Cornish Limited 
  Nominated Adviser and Joint 
  Broker 
  Roland Cornish                   +44 (0) 20 7628 3396 
 
 Old Park Lane Capital Plc 
  Joint Broker 
  Charles Laughton 
  Zoe Alexander 
  Shore Capital 
  Joint Broker 
  Pascal Keane 
  Jerry Keen (Corporate Broker) 
  Bell Pottinger 
  Public Relations 
  Henry Lerwill                    +44(0) 20 7493 8188 
  Cassiopeia Services               +44 (0) 20 7408 4090 
  Investor Relations                +44 (0) 20 3772 2500 
  Stefania Barbaglio                +44 (0) 79 4969 0338 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCQFLFXEXFEBBX