Ntorya-2 Update, Tanzania

RNS Number : 9544X

Solo Oil Plc

27 February 2017

 

FOR IMMEDIATE RELEASE, 2:00pm                                                                                           27 February 2017

SOLO OIL PLC

("Solo" or the "Company")

Ntorya-2 Update, Tanzania

Further to the Company's announcement of 6 February 2017, Solo today confirms that production testing on the recently drilled Ntorya-2 ("NT-2") appraisal well commenced on 25 February 2017 and gas is now flowing to surface.  The well will be tested with a variety of flow rates and choke sizes to determine the optimal deliverability of the well for production purposes.  The Company now expects to have results of the production testing and petrophysical analysis by mid-March.

Solo has a 25% non-operating interest in the Ruvuma PSA, and in the Ntorya discovery and Ntorya-2 well, which is operated by Aminex plc.

For further information:

Solo Oil plc Neil Ritson	[phone]
Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish	[phone]
Shore Capital Joint Broker Jerry Keen Beaufort Securities Joint Broker Jon Belliss Cassiopeia Services Ltd Investor and Media Relations Stefania Barbaglio	[phone] [phone] [phone]

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.

Glossary:

appraisal	the collection of additional data, usually in the form of additional wells, on an existing discovery prior to sanctioning a development plan
flow or production test	a flow test or well test involves testing a well by flowing fluids to surface, typically through a test separator. Key measured parameters are water, oil and gas flow rates, downhole pressure and surface pressure. The overall objective is to identify the well's capacity to produce hydrocarbons at a commercial flow rate
PSA	petroleum sharing agreement or contract
petrophysics or petrophysical analysis	the study of the physical and chemical properties of rock formations and their interactions with fluids

 

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