Share Name Share Symbol Market Type Share ISIN Share Description
Solo Oil LSE:SOLO London Ordinary Share GB00B1TYBN97 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.01p -2.41% 0.405p 0.40p 0.41p 0.425p 0.385p 0.405p 135,782,369 15:58:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -2.8 -0.1 - 31.78

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Solo Oil Daily Update: Solo Oil is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SOLO. The last closing price for Solo Oil was 0.42p.
Solo Oil has a 4 week average price of 0.39p and a 12 week average price of 0.39p.
The 1 year high share price is 0.89p while the 1 year low share price is currently 0.21p.
There are currently 7,846,756,009 shares in issue and the average daily traded volume is 155,064,227 shares. The market capitalisation of Solo Oil is £31,779,361.84.
edgein: Whoppy, You must have missed the bit that NR and AEX have suggested that these two wells warrant development. And yes NT has had a material impact on the gas in place and recoverable gas. There's been much talk about NT-1 and NT-2 as a development and that's why what once was the back to back NT-3 has for now been shelved (pending seismic and further analysis or whatever). They certainly don't need NT-3 to put in a plan for the developmental licence, its been pending the results of NT-2 as they've both said NT-1 was economic in its own right at 70Bcf, multiples of that just make it more economic (NT-2). Once the independent CPR comes up with the good it gets the nod and wink from the ministry, lo and behold a bit of the old vertical on the AEX and SOLO share prices, shareholders will jump and skip. Until then hold the horses and calm thee heed. You're like one of those horses that were a little too keen at the start of the grand national. Regards, Ed.
m0rrisminor: Why do some characters to many name to mention on this. Bb come to the conclusion that , to acquire a position in company that sources helium is detrimental to solo oil. We are a investment company has NR as said on many occasions. We have already a producing asset in Tanzania N2 will be sold soon. You should at least look on the solo Website for your research before investing . I have been in solo since 2010 and now I Can see that the company is coming good so when my share price is met I will move on Gla lth.
lowflow: Bad news, today's RNS isn't the right move for the company: 1) Investing in a project which is very far away from being operational, 2) Additional dilution, 3) If Neil Ritson thought the stock was worth more than the current share price he wouldn't be printing lots of share below the current share price. Neil Ritson should stop printing new shares and focus on the existing asset.
c31161: @DavidLenigas share price has dropped!! Just don't understand it ....@EMANONF1 @DavidLenigas I m glad I m not the only one scratching my head over share price dropDL tweetMarket makers covering their shorts IMHO
haggismchaggis: Decoding the “significant success” reported by Aminex and Solo Oil The companies says Ntorya-2 represents a better-than-expected result, but, both shares are down almost 20% - here, we take a closer look. Looking at Aminex plc (LON:AEX) and Solo Oil PLC (LON:SOLO) following the release of test results from the Ntorya-2 appraisal well its quite plain to see there’s something of a disconnect between the companies and the stock market’s view. Aminex and Solo this morning told investors of the Tanzanian well’s “significant success”. Ntorya-2 has, according to the partners, proved the commercial merits of the gas discovery and has set them on a path to production. Nevertheless, Aminex and Solo Oil shares each tumbled almost 20% in Wednesday morning’s deals. Here, we attempt to decode this morning’s announcements and the reasons for the share price fall. What was the result? The Ntorya-2 well is located some 1.5 kilometres from the original Ntorya-1 discovery well and it has intersected a much larger gas reservoir zone. Flow testing was impeded somewhat by technical issues, nonetheless, the well testing yielded a rate of 17mln cubic feet of gas per day, which would be 2,833 barrels oil equivalent per day. "The overall results of Ntorya-2 have substantially exceeded Aminex's expectations and now we have the potential for a commercial development project in the Ruvuma Basin,” said Aminex chief executive Jay Bhattacherjee. Technical problems The obvious source of shareholder dissatisfaction comes from the fact that technical problems limited the partner’s ability to fully measure Ntorya’s production capacity – in fact, Ntorya-2 flowed at a lesser rate than the previous well (albeit under different operating conditions). During drilling there was a significant influx of gas into the well, and as a result the company had to adapt which resulted in constricted gas flow during testing. Specifically, Aminex explained that it had to increase the drilling mud weights due to the “strong gas influxes” so that they could maintain well control and operate within safety parameters. Subsequently, the higher than planned mud weights resulted in reservoir invasion which tempered overall test performance. The upshot is that the gas flows measured by the appraisal well do not properly represent the extent of what could be possible at this well location. For context, the Ntorya-2 well cut in a much larger pay zone than the original discovery yet its flowed gas at a lower rate. The new appraisal well encountered some 51 metres gross reservoir (34 metres were perforated) whereas Ntorya-1 tested only a four-metre interval and yielded 20mln cubic feet per day. Aminex told investors that Ntorya-2 would be suspended for future production. The burden of high expectations When considering the share price response to Wednesday’s news it is probably important to note that the results were hotly anticipated and expectations have been building for a number of months. Speculation frequently coincides with expectation, and as such trading in Aminex and Solo Oil shares has been brisk in the weeks and months leading up to the Ntorya-2 well. Aminex shares, for example, had risen almost 250% - to 6.84p from 2p - in the three months before today’s well results. Similarly, Solo Oil shares were up about 180% in the same period. One could probably deduce then that at least a portion of Wednesday’s sellers simply closed out speculative trades as the nuanced well result took momentum out of the shares. What comes next for Ntorya? Aminex highlighted that there will now be a period of analysis, which will guide what happens next. The partners will have to reconcile the findings of the Ntorya-2 well and the previous Ntorya-1 data, and in time they’ll likely come up with a new estimate of the project’s resources. The presence of oil shows in Ntorya-2, whilst plainly good news, will also give some more pause for thought. This part of east Africa is already known to be host to vast gas resources, with major offshore discoveries providing the basis of significant LNG developments, but, oil discoveries have been elusive and are something of a holy grail for exploration geologists studying the area. Aminex intends to revise the geological model of the onshore portion of the basin, to account for the apparent evidence that oil is present in the vicinity of Ntorya. With the phase of desktop work, the partners will draw conclusions that will be used for the next programme on work in the field. A third well will be planned, with the location determined based on the upcoming assessments. Meanwhile, as Aminex highlighted, the Ntorya-2 well is being suspended as a future producer. Given the proximity of gas export infrastructure to Dar es Salaam, Tanzania’s capital, investors will be keen to hear more about the possible timelines for revenue-generating production from the project. Former Solo Oil chairman David Lenigas, meanwhile, has suggested that some corporate activity could potentially follow the latest Ntorya well result. “Ntorya -2 successful test will probably make the Oman shareholders of Aminex look at now consolidating the whole AEX and SOLO play. IMHO,” Lenigas told his six thousand strong list of followers on Twitter. [...] Last summer, Aminex brought in £19.5mln of new capital – which funded Ntorya-2 – with a share placing including a new cornerstone investor, Eclipse Investments, which is part of Oman’s Zubair Corporation. Putting in around £13mln, Zubair took a stake representing around 28% of Aminex
c31161: @DavidLenigas share price has dropped!! Just don't understand it ....@EMANONF1 @DavidLenigas I m glad I m not the only one scratching my head over share price dropDL tweet Market makers covering their shorts IMHO.
edgein: SOLO by comparison is much much better value, far more projects and potential. As well as KN-1 and NT, they've got HH and IoW, also Nigeria pending. Cap here is a mere £18m, AEX already over £75m. SOLO has very little in for NT, there certainly is a portion of NT already in AEX i'm afraid given its cap. We'll have two significant projects ongoing early next year whereas AEX will only have our joint project. Oh and JB at AEX is no miracle worker in terms of finances either, I held AEX for ages, one discounted placing after another and disastrous drilling on Nyuni. So I chose the one with the most upside this time around, Ntorya followed by the interest building on HH is likely to be very positive on the share price here. Smart money is going on SOLO rather than AEX and ALBA as you're getting two for the price of one here and either asset early next year could see these above 1p, two together and its gonna get very interesting for SOLO this time next month. Regards, Ed.
edgein: Scyther, I wouldn't bother trying to figure out what institutions do. A recent example would be SOLG. No sign of any institutions there when the share price was at 3p. Yet they buy like crazy once the share price hit 12p. Long before 12p everyone could see the results at Casca etc. Also another example, insti offloaded loads of CAZA at 4p, 6 weeks later the share price was around 60p. Perhaps here this institution is happy with their 10-15% profit, either way it won't change the outcome of the N-2 appraisal well. Barony, Well as long as you get in early on some successful investments you can start to recover some of that. What your wife doesn't know won't hurt her. :) Regards, Ed.
edgar222: By Ben Turney | Friday 26 September 2014 55 Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article. Just over two months ago, Gary Newman (a little ambivalently) picked Solo Oil (SOLO) as his runner in the Horse Hill race. His reasoning had less to do with Horse Hill and more to do with the appraisal of the Ntorya gas condensate discovery in Tanzania, in which Solo retains 25%. As it turned out, this was another good call by Gary, albeit a reluctant one! At the start of the month, Solo announced a sizeable upgrade to the reserves at Ntorya-1 and the company’s share price hasn’t looked back. From an end of day close of 0.38p on September 3rd, this stock hit an intraday peak of 1.2p and now trades at 0.98p, last seen. This values Solo at £46.56million. Now that the company has secured a c.$8.6million funding package, the question is can Solo build on its recent fantastic gains? The flippant answer to this question is of course it can. Pretty much everything David Lenigas has touched over the last year or so has turned to gold. His avid followers will have made a fortune and whatever else is said about him, he certainly appears keenly attuned to this strange market, which we find ourselves in. Solo has already made spectacular gains, but if you consider the performance of Leni Gas & Oil (LGO) and Rare Earth Minerals (REM), why shouldn’t more follow? An obvious concern is the likely overhang Solo faces as a result of the placement elements of yesterday’s funding package. The company conducted a standard £760,000 placing at 0.95p. It also, at the same price, announced plans to issue 157,894,737 new shares to YA Global Master (YAGM), worth £1.5million. Solo paid £750,000 of this back to YAGM in an Equity Swap Agreement, but so long as its share price doesn’t fall should expect to receive 12-monthly payments of £62,500. Together with the $1million Solo drew down from its new $5million debt facility (also with YAGM), the company appears reasonably well funded over the coming twelve months. The involvement of YAGM will probably prove to be a divisive issue among shareholders. In one corner there will be those who point to the success of the Equity Swap deal Mr Lenigas struck on behalf of Rare Earth in June 2013. This acted as a catalyst for the incredible run that stock went on. In the other corner will be those who look at the wider record of YAGM’s involvement in AIM stocks and the fact that this company’s name is synonymous with death spiral funding. Although it is hard to argue with the fact that the funding packages provided by YAGM are essentially measures of last resort, much will depend on how Solo puts the funds to use. If the company is able to deliver further major and positive operational news, then further share price gains will surely follow. As much as I remain sceptical about Horse Hill, there is an outside chance this project could deliver this result, but developments at Ntorya look more interesting. Recent seismic results have apparently extended the potential of the Ntorya appraisal area. Putting to one side the infrastructure required to commercialise Ntorya and likely costs, if Solo is able to increase again the size of the reserves at Ntorya, this should give the share price an obvious boost. One thing Mr Lenigas’ companies are extremely good at is telling their stories in a clear, concise manner and building a sense of excited anticipation. For example, at Ntorya, apart from the size, the key messages we are all meant to have taken away about this discovery are that this is an onshore development (cheaper to develop), the gas will be sold to the local market (sounds simple, right?) and it is within approximately 20km of a new pipeline, which is nearing completion (job done!). The reality of commercialising Ntorya is bound to be more expensive and take longer than most punters expect, but when do such trivial fundamental concerns get in the way of a good old-fashioned AIM buying frenzy? Over the coming weeks, barring a major surprise at Horse Hill, I’d expect Solo’s share price to drift, as the placement shares slowly find their way into the secondary market. Perhaps the 0.95p price will act as a floor. We shall see, but the key thing to look out for will be an announcement concerning expected delivery deadlines for further appraisal work at Ntorya. The results of these could very well unleash another wave of buying. - See more at: hTTp://
dosser2: Solo Oil’s shares rise as the company spuds its first well onshore the UK –the Horse Hill-1 well in Surrey 04 Sep 2014 by Stewart Dalby inShare Print this Article Executive Director Neil Ritson Executive Director Neil Ritson Solo Oil and Leni Gas & Oil are sister companies of a similar age-- that is, a few years old -- quoted on London’s AIM and driven and managed by (until recently) David Lenigas as chairman and Neil Ritson as executive director. Like a lot of siblings, while Leni has flourished, Solo, until now, has failed to shine. In part this is due to the fact that the two companies are different creatures. Leni is a conventional E & P group operating in the re-discovered oil province of Trinidad. Leni picked the low lying fruit from old oil wells and ran up a few hundred barrels a day in output. Earlier this year Neil and his team thought that if the company drilled development (not, it should be stressed exploration) wells into deeper zones there could be a great increase in output. It worked. Instead of a well producing say 60 bopd from a shallow zone one new development wells have been flowing at 240 bopd. The company should soon be announcing an exponential increase in production. The share price has gone up from 0.6 pence in March 2014 to 3.5p last evening. David Lenigas, a serial entrepreneur, has stepped aside as executive chairman now Leni is a £100 Million market cap company. Solo Oil, on the other hand, is an investment company planning to acquire a diverse portfolio of direct and indirect interests in exploration, development and production oil and gas assets which are based in the Americas, Europe or Africa. Both onshore and offshore assets are considered. Ideally Solo would usually have interests of around 10 to 12 per cent in a project. So far, "diverse" has been the right word for its range of investments and spotty is probably the right word for its performance. The share price dawdled along at around 0.15p for almost a year until it began to move in May this year, for reasons I shall come to. Essentially there are currently three projects. In 2010 Solo starting investing in Reef Resources, a Toronto listed public company, to finance of the development of a proven oil and gas production asset in Ontario centred on the Ausable field. Over the next two of three years Solo pumped in a total of C$3 million and built up a 28.56 per cent working interest. Unfortunately, although the oil and gas was definitely discovered and "down there" Reef went through the funds because of poor drilling and is now very strapped for cash. Solo therefore finds itself stranded and over committed (by its own lights) in this scheme. The other two ventures now look more promising. Solo has a stake in the Ntorya gas-condensate discovery in the Ruvuma PSC in Tanzania. This is thought to have great potential. But it is the third project which is more immediate and which is responsible for the share price rise I mentioned; and here is where the diversity the comes in. Yesterday Solo announced the spudding of the Horse Hill-1 well in Surrey, onshore southern England, close to Gatwick airport-- its first involvement in the UK. Shares in the £18.68 million market cap company increased by 0.04p, or 10 per cent, taking the price, at 0.40p, to double what it was in May. Solo has a 10 per cent interest in the well through investment company Horse Hill Development. HHD holds 65 per cent of the action giving Solo a 6.5 per cent stake – a level of investment that Solo feels happy about—in a multi-target prospect. The operator has evaluated the Jurassic oil targets in the Portland sandstone, Coralian sandstone and Great Oolite limestone. The well is planned to be drilled to 8,680 feet in order to evaluate these sections in addition to the potential for conventional gas within the Triassic section of the Horse Hill structure.Gross prospective recoverable resources in the horizons with oil potential are a mean 87 million barrels as estimated by the previous operator, Magellan. Magellan also estimated an additional mean 164 bcf of gross recoverable prospective gas resources within the deeper Triassic play. Horse Hill-1 has taken longer than expected to start to be drilled because there were environmental and all kinds of other regulatory hurdles that needed to be jumped. But the point is this is a conventional, vertical well, so it will not be controversial or delayed by protesters. It could produce near term cash flow. Barney Gray, oil and gas analyst at Solo’s house broker, Old Park Lane Capital, believes if successful, the well could mean significant upside to Solo’s current share price. As for Ntorya, the story here is that the Ntorya-1 well tested back over two years over an initial 3.5 metre interval at a rate of 20.1 million cubic feet a day (mmcfpd) (equivalent to 3,350 boepd) with an estimated additional 140 bopd of 48 degrees API condensate. Un-risked contingent gas-in-place was estimated to be 1.1 tcf of which 178 bcf is considered discovered by the Ntorya well. A farm out at this point would have seemed the next logical step. But at this time Tullow pulled out of the partnership leaving Aminex the operator with 75 per cent of the action and Solo with 25 per cent as opposed to 12.5 per cent.Brian Hall, the long standing chairman and boss of Aminex had temporarily retired from frontline duty at Aminex. He came back from what he called his “gap year” to find Aminex under severe financial pressure. He negotiated an emergency loan and tried for a farm-out. But people were not interested. They told Brian to come back back when he had some seismic. With a new CEO at Aminex in the form of Jay Bhattacherjee in place, a programme of 2D seismic has taken place and the prospects of a farm out are much greater. Neil Ritson says he would be happy if the farm out also involves Solo since he wants to see the company’s involvement back at 12.5 per cent. He would be happier still if any farm out also involves an early well.
Solo Oil share price data is direct from the London Stock Exchange
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