Ntorya-1 Drilling Update

RNS Number : 4281X

Solo Oil Plc

15 February 2012

 



For Immediate Release

15 February 2012

SOLO OIL PLC

("Solo" or the "Company")

Ntorya-1 Drilling Update

Solo Oil plc today provides a further update on the drilling of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania. 

On the 10 February 2012 it was announced that the well would be deepened to test an additional target identified on the seismic data at a depth of approximately 2,750 metres.  The well has now been drilled to 2,750 metres. Prior to reaching that depth the well encountered strong gas shows in a good quality reservoir sandstones at a depth of approximately 2,660 metres. 

A logging programme will commence shortly to evaluate the new section drilled below 2,500 metres and a further update will be provided after the logging programme has been completed.

The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north. 

Participants in the deepening of the well below 2,500 metres are:

Ndovu Resources Ltd (Aminex)                       75% (operator)

Solo Oil plc                                                      25%

Competent Person's Statement:  The information contained in this announcement has been reviewed and approved by Neil Ritson, Chief Executive Officer and Director for Solo Oil Plc who has 35 years of relevant experience in the oil industry.  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 David Lenigas Neil Ritson	[phone]
Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish	[phone]
Shore Capital Joint Broker Pascal Keane Jerry Keen (Corporate Broker) Pelham Bell Pottinger                             Public Relations Mark Antelme Henry Lerwill	[phone] [phone]

 

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