Solo Oil Plc Operational Update Ntorya-2, Tanzania (5981T)
January 09 2017 - 2:00AM
UK Regulatory
TIDMSOLO
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 1/2 -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 +44 (0) 20 3794 9230
Beaumont Cornish Limited
Nominated Adviser and
Joint Broker
Roland Cornish +44 (0) 20 7628 3396
Shore Capital
Joint Broker
Jerry Keen
Beaufort Securities
Joint Broker
Jon Belliss
Cassiopeia Services
Ltd
Investor and Media +44 (0) 20 7408 4090
Relations +44 (0) 20 7382 8300
Stefania Barbaglio +44 (0) 79 4969 0338
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
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This information is provided by RNS
The company news service from the London Stock Exchange
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