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
  +0.00p +0.00% 0.81p 0.80p 0.82p 0.855p 0.805p 0.835p 127,573,073.00 09:28:46
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -2.8 -0.1 - 56.60

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28/2/201709:51Solo Oil Plc - Investors Forum5,010.00
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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 0.81p.
Solo Oil has a 4 week average price of 0.57p and a 12 week average price of 0.41p.
The 1 year high share price is 0.86p while the 1 year low share price is currently 0.21p.
There are currently 6,987,691,682 shares in issue and the average daily traded volume is 267,758,474 shares. The market capitalisation of Solo Oil is £57,299,071.79.
vinceelliott: Volume traded this morning exceeds last two days trading. Share trading now slowed down since 0900 Share price down approx. 7.5% from yesterday Figures below from spreadsheet show that based on 1 yesterdays closing price 2 injection of £2M in new funding 3 additional 400,000,000 new shares the new price should be 0.5946p approx. So the 7.5% drop negativity of share dilution negativity of 20% discount for new shares positivity of reason for funding (look at effect on AEX) rampers derampers AIM shorting by new shareholders of the additional 400,000,000 new shares overreaction ? SHARES IN CIRCULATION New Total Latest Increment Previous Total 7,387,691,682 400,000,000 6,987,691,682 Closing price 15/02/17 0.6 Company Value 41,926,150 16/02/17 New Value Added 2,000,000 New Company Value 43,926,150 Value per share 0.5945855889
edgein: GD, Oh yeah certainly research is vital and commodity pricing before entering or exiting any stock. Market cap is the most important of all, knowing when something is under price or over priced. You're not doing too badly chap, you've been in this game many a year too and that's saying something. AEX a bit of profit taking there ahead of flow tests it seems. SOLO have the luxury of a tiny £44m cap given the 4 discoveries here. Imo the UK assets justify about £20-30m of that leaving very little for the large Ntorya discovery. JB quoted a high estimate of 370 Bcf (P10). That was before the well exceeded expectations. So SOLO's 25% here is now material. Flow tests will demonstrate how this well compares to NT-1. It'll be good to see how the share price reacts to both Tanz and UK action this year. Arreton alone could be another company maker/Brockham/HH type asset even though its not on the immediate plans. I'm now kinda hoping that Nigeria doesn't complete, better use of funds in Tanz now. Regards, Ed.
edgein: Barony, I know, some folks were able to buy today at a slightly lower price that where Mr Ritson took some at the start of the month. Market is crazy at the moment on some stocks. This share price lull has just allowed more to accumulate at really low prices below 0.3p, give it time though as SOLO has a habbit of spiking above 1p. Will it be NT-2, NT-3 or HH that causes the next one? We'll find out in the next 5 weeks fingers crossed! Yeah SOLO will need a couple of mill I guess if they go for NT-3, hopefully debt funded after NT-2 results, if necessary of course. Regards, Ed.
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: SOLO is still the cheaper of the partners for Ntorya, with an acquisition of around 11mmbbls 2P pending in Nigeria, KN and HH its very cheap and over sold. Its clear the sentiment on here from some and their reasons for it. There is already 140Bcf discovery at Ntorya, could be up to hundreds of Bcf after N-2 (60-70% CoS). As NR said in the recent interview that N-2 could ADD £70m to the cap here and they've a rig option to drill N-3 (AEX estimate around 1.5Tcf if N-3 appraisal well comes in). Effiert, COPL is exploration, AEX and SOLO are appraisal/development companies. Solo just happens to have 2 appraisal and development projects in the near term, one being the large gas discovery at Ntorya which quoting management could be developed in months rather than years (its only 20kms from the national pipeline which has significant capacity). The appraisal well is only 1500m from the discovery well on the same huge Ntorya structure. The second being what may turn out to be the biggest UK onshore discovery ever. Its already flowed significantly more on test than any other onshore UK well (its got characteristics of offshore wells). Planning permission in the pipeline for a sidetrack developmental well and HH-2 appraisal well (due around Jan 17 from the latest HH RNS). Given the tiny cap here and the quality of the projects I'm happy to accumulate up to 0.5p with a price target of 1.25-2p within the next 12 months (higher, much higher if they are successful at N-3). SOLO is a perilous short for anyone, Nigeria could complete at any time adding 11mmbbls or about £15m easy to the cap for undeveloped reserves (in development and we'd be a smaller version of LEK or ELA). Planning permission/HH testing in the short term could add another £15m to the cap easy (share price went from 0.3p-1.3p on the last activity on HH). Drilling on a potential company making project like Ntorya makes this a nightmare short, just imagine if they report gas shows in the tertiary on the way to the primary! :) 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.
edgein: Good to see these +ve estimates coming out regarding the share price. SOLO hit 1.3p on the results from HH previously, so 0.84p on the much more significant 25% of Ntorya looks modest at this stage, but I guess it gives them room to upgrade if the company hits thicker reservoir at N-2 as predicted. But certainly it shows how cheap these are on HH and KN-1 production and reserves already, the Ntorya discovery not priced in at present. Just look at the reaction of SOU to the modest well in Morocco that flowed a few hundred boed on test, N-1 for AEX/SOLO flowed almost 3500boepd from just a 3.5m section. If SOU can hit £500m cap on that asset no reason why SOLO couldn't hit £100m cap on what is a potentially 1Tcf+ project with over 4Tcf+ prospective on the licence. That broker is correct its quite possible that Ntorya could transform SOLO into a mid cap company without its other assets included. £16m cap at present, insane compared to its current assets with appraisal/development plans, HH alone could see it over 1p again next year so plenty of upside on its current cap for different angles. Regards, Ed.
edgein: Simon, If you bought in less than 1p back in 2014 you should be ok imo. The rig is for one well slot and one optional slot for appraisal. On a successful result from N-2 I'd expect price action similar to Sept 2014 as this is a potential company making well. 1Tcf+ onshore Tanz and close to the new national pipeline would be transformational to SOLO and its cap. If they go ahead with the optional rig slot and drill it North of Ntorya and prove gas between Ntorya and Likonde we could be looking at multi TCF on this licence. SOLO holders may have a reason to feel optimistic soon since the current share price barely underpins the value at HH and KN-1 production with the upside on Ntorya not price in yet at all. Any kind of success that resembles N-1 and there will be fireworks. In that scenario if they take the additional appraisal well slot we could get a share price performance that rivals 88e (I held those too). 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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