Update Kiliwani North Development, Tanzania

RNS Number : 0813J

Solo Oil Plc

01 April 2015

 



FOR IMMEDIATE RELEASE, 7 am                                                                                                                                  1 April 2015

SOLO OIL PLC

("Solo" or the "Company")

Update Kiliwani North Development, Tanzania

The Company has been informed by operator Aminex plc that the Tanzanian Petroleum Development Corporation ("TPDC") have formally reported that the regional pipeline connecting Dar es Salaam to Mnazi Bay is now complete and that hydrostatic pressure testing will begin shortly.  The construction of the processing plant on Songo Songo Island is reported by TPDC as approximately 95% complete and it is expected that commercial production of gas from Kiliwani North will commence late in the first half 2015 with stabilized production rates achieved during the third quarter 2015. 

Neil Ritson, Solo's Chairman, commented:

"The project remains on track for first commercial sales in the mid-year and once the gas sales agreement comes into force we will consider our option to double our interest in the project from 6.5% to 13%."

For further information:

Solo Oil plc Neil Ritson Fergus Jenkins	[phone]
Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish	[phone]
Old Park Lane Capital Plc Joint Broker Charles Laughton Zoe Alexander Shore Capital Joint Broker Pascal Keane Jerry Keen (Corporate Broker) Bell Pottinger                            Public Relations Henry Lerwill Cassiopeia Services Investor Relations Stefania Barbaglio	[phone] [phone] [phone] [phone]

 

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