Solo Oil Plc Operational Update Ntorya-2, Tanzania (5981T)

TIDMSOLO

RNS Number : 5981T

Solo Oil Plc

09 January 2017

FOR IMMEDIATE RELEASE, 7:00 am 9 January 2017

SOLO OIL PLC

("Solo" or the "Company")

Operational Update Ntorya-2, Tanzania

Solo today provides an update on the progress of the Ntorya-2 appraisal well in Tanzania operated by Aminex plc ("Aminex"). The vertical Ntorya-2 appraisal well was spudded on 21 December 2016 and has a planned total depth of 2,860 metres.

Aminex has provided the following update:

-- The 17-inch hole section was successfully cased and cemented to a depth of 1,326 metres on 5 January 2017.

-- The well is currently drilling in the 12-inch hole section which commenced on 7 January 2017 and is planned to reach a depth of 2,095 metres, and will then be cased and cemented.

-- The well is then planned to be drilled in a 8 1/2 -inch hole section through the target Cretaceous formation to an estimated final depth of 2,860 metres. A 7-inch cemented liner is planned and detailed analysis of the well data will be conducted.

   --     Once a permanent completion has been set the well is expected to be flow tested. 

This well is targeting the same sandstone channel complex as the Ntorya-1 discovery which flow-tested gas at 20 million cubic feet per day, with 139 barrels of associated condensate, from a 3.5-metre sandstone interval.

The Company has a 25% non-operating interest in the well, which is operated by Aminex.

For further information:

 
 Solo Oil plc 
  Neil Ritson                [phone] 
 
 Beaumont Cornish Limited 
  Nominated Adviser and 
  Joint Broker 
  Roland Cornish             [phone] 
  Shore Capital 
   Joint Broker 
   Jerry Keen 
   Beaufort Securities 
   Joint Broker 
   Jon Belliss 
   Cassiopeia Services 
   Ltd 
   Investor and Media         [phone] 
   Relations                   [phone] 
   Stefania Barbaglio          [phone] 
 

Glossary:

 
 discovery   a petroleum accumulation for 
              which one or several exploratory 
              wells have established through 
              testing, sampling and/or logging 
              the existence of a significant 
              quantity of potentially moveable 
              hydrocarbons 
----------  ---------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 09, 2017 02:00 ET (07:00 GMT)