Update on Likonde-1 Well - Ta

RNS Number : 3567I

Solo Oil Plc

10 March 2010

 



10 March 2010

Solo Oil Plc

("Solo" or "the Company")

UPDATE ON LIKONDE-1 WELL - TANZANIA

Solo Oil Plc ("Solo") advises the following update made today by Tullow Oil PLC on the Likonde-1 well in Tanzania.

"Tullow has interests in the onshore Lindi and Mtwara blocks in the frontier Ruvuma Basin in southern Tanzania. Following interpretation of newly reprocessed seismic data, Likonde-1 was selected as the first well to establish the potential of a possible new oil play fairway. The well commenced drilling in January 2010 and a result is expected in late March 2010. Further evaluation planned for 2010 includes reprocessing the seismic dataset and incorporating and interpreting the new drilling results, the outcome of which will influence the forward exploration programme."

Likonde-1partners are Tullow Oil PLC (50% - operator), Aminex (37.5%) and Solo (12.5%).

For further enquiries:

Solo Oil PLC
David Lenigas/Kiran Morzaria	[phone]
Beaumont Cornish - Nominated Adviser
Roland Cornish	[phone]
Astaire Securities	[phone]
Jerry Keen/Toby Gibbs

Rivington Street Corporate Finance	+ 44 (0) 20 7562 3351
Dru Edmonstone

 

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