Operational Update Ntorya-2, Tanzania

RNS Number : 5981T

Solo Oil Plc

09 January 2017

 

FOR IMMEDIATE RELEASE, 7:00 am                                                                                          9 January 2017

SOLO OIL PLC

("Solo" or the "Company")

Operational Update Ntorya-2, Tanzania

Solo today provides an update on the progress of the Ntorya-2 appraisal well in Tanzania operated by Aminex plc ("Aminex").  The vertical Ntorya-2 appraisal well was spudded on 21 December 2016 and has a planned total depth of 2,860 metres.

Aminex has provided the following update:

·     The 17-inch hole section was successfully cased and cemented to a depth of 1,326 metres on 5 January 2017.

·     The well is currently drilling in the 12-inch hole section which commenced on 7 January 2017 and is planned to reach a depth of 2,095 metres, and will then be cased and cemented.

·     The well is then planned to be drilled in a 8 ½-inch hole section through the target Cretaceous formation to an estimated final depth of 2,860 metres. A 7-inch cemented liner is planned and detailed analysis of the well data will be conducted. 

·     Once a permanent completion has been set the well is expected to be flow tested.

This well is targeting the same sandstone channel complex as the Ntorya-1 discovery which flow-tested gas at 20 million cubic feet per day, with 139 barrels of associated condensate, from a 3.5-metre sandstone interval.

The Company has a 25% non-operating interest in the well, which is operated by Aminex. 

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]

Glossary:

discovery

a petroleum accumulation for which one or several exploratory wells have established through testing, sampling and/or logging the existence of a significant quantity of potentially moveable hydrocarbons

 

END

 

 

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