Update, Farmout in Tanzania

RNS Number : 5925W

Solo Oil Plc

29 January 2013

 



For Immediate Release

29 January 2013

SOLO OIL PLC

("Solo")

Update, Farmout in Tanzania

Solo today announces that due to the considerable level of interest being expressed in the farm-out of its Ruvuma PSA in Tanzania the deadline for the receipt of bids has been extended until March 2013. 

Neil Ritson, Solo Executive Director commented:

"The level of interest has been very significant and it has not been possible to accommodate all the interested parties in the physical data-room prior to the original bid deadline.  Several companies have asked for the deadline to be extended in order to allow them to complete their evaluation and we have therefore agreed with Aminex and FirstEnergy Capital LLP to accept bids up until early March."

Participants in the Ruvuma PSA are; Ndovu Resources Ltd (Aminex) 75% (operator) and Solo Oil Plc 25%. 

For further information:

Solo Oil plc David Lenigas Neil Ritson	[phone]
Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish	[phone]
Old Park Lane Capital Plc Joint Broker Michael Parnes Luca Tenuta Shore Capital Joint Broker Pascal Keane Jerry Keen (Corporate Broker) Pelham Bell Pottinger                             Public Relations Mark Antelme Henry Lerwill	[phone] [phone] [phone]

 

END

 

 

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