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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Scirocco Energy Plc | LSE:SCIR | London | Ordinary Share | GB00BF1BK408 | ORD 0.20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.021 | 6.46% | 0.346 | 0.30 | 0.35 | 0.325 | 0.325 | 0.325 | 7,858,920 | 16:35:10 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil And Gas Field Expl Svcs | 135k | -4.82M | -0.0053 | -0.60 | 2.88M |
TIDMSOLO
RNS Number : 2134D
Solo Oil Plc
05 July 2016
FOR IMMEDIATE RELEASE, 7:00 am 5 July 2016
SOLO OIL PLC
("Solo" or the "Company")
Horse Hill Licence Extensions Agreed
Solo today announces that it has been informed by Horse Hill Developments Limited, operator of the Horse Hill-1 ("HH-1") well, that the Horse Hill licences PEDL137 and PEDL246 ("HH Licences") have been converted to the licence terms used in the recent 14th Round, thereby permitting the HH Licences to continue without further relinquishment. A Retention Area covering the entire 55 square mile licence area and an outline work program has been agreed with the Oil and Gas Authority ("OGA").
The HH Licences will continue throughout the agreed work program period currently set at 2 years for PEDL137 and 1 year for PEDL246. The work program includes further long-term production testing of three Kimmeridge Limestone zones and the overlying Portland Sandstone, two further appraisal or development wells and 3D seismic.
Neil Ritson, Solo's Chairman commented:
"We are pleased that the operator has agreed with the OGA to adopt the 14(th) Round licence terms and that the entire licence area will be retained during the ongoing appraisal of the Horse Hill-1 discovery which tested at such exciting flow rates earlier this year."
Solo owns a 6.5% interest in the HH Licence which is located on the north side of the UK Weald Basin close to Gatwick airport.
Qualified Person's Statement:
The information contained in this announcement has been reviewed and approved by Neil Ritson, Chairman and Director of Solo Oil plc who has over 38 years of relevant experience in the energy sector. 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.
For further information:
Solo Oil plc Neil Ritson Fergus Jenkins +44 (0) 20 3794 9230 Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish +44 (0) 20 7628 3396 Shore Capital Joint Broker Pascal Keane Jerry Keen (Corporate Broker) Bell Pottinger Public Relations Henry Lerwill Cassiopeia Services LLP +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
MSCUGUMCMUPQPGC
(END) Dow Jones Newswires
July 05, 2016 02:00 ET (06:00 GMT)
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