2 Mar 2016 08:59
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Don't have an account? Click here to register.Solo Oil raises fresh funds from institutional investor
Fri, 16th Sep 2016 12:56
(ShareCast News) - Solo Oil succeeded in raising £2.0m from an institutional investor.The explorer sold 1,111,111,111 new shares, which were equal to 15.9% of its issued share capital, at a price 0.18p, which were placed with Epsilon Pty.Proceeds from the placing would be used to fund its Ntorya-2 well in Tanzania and settle all outstanding amounts due to YA Global Master under an Equity Swap Agreement, which was now terminated.Neil Ritson, Solo's Chairman, commented: "The Company is now funded for its share of the estimated dry-hole costs for the upcoming high impact Ntorya-2 appraisal well in Ruvuma Basin, Tanzania. We look forward to further updates from the operator Aminex as we near the expected spud date during the fourth quarter of this time."As of 1537 BST shares in the outfit were falling by 6.12% to 0.23p giving the company a market capitalisation of £14.88m.
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17 Feb 2016 07:55
Gatwick's Horse Hill oil well flows naturally
(ShareCast News) - Oil has continued to flow naturally from a discovery well near Gatwick Airport owned by a consortium of oil exploration companies, with the first two tankers of crude sent for refining. Following the announcement of Monday's initial flow using water, UK Oil & Gas (UKOG) said opera
Read more11 Feb 2016 15:57
Aminex sells stake in Tanzanian licence to Solo Oil
(ShareCast News) - Oil and gas explorer Aminex is selling a 3.8% interest in the Kiliwani North Development licence in Tanzania to Solo Oil for $2.16m (£1.49m), the company announced on Thursday. Solo's stake in the licence will increase to 10% following the completion of the deal. Aminex will remai
Read more8 Feb 2016 08:29
1 Feb 2016 12:22
Solo Oil prepares for first gas at Kiliwani North
(ShareCast News) - Solo Oil was counting down to first gas and first revenue at the Kiliwani North Development Licence in Tanzania on Monday, having been advised by the project's operator that production was due to begin in mid-February. The news from the AIM-traded company followed the signing of a
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