TIDMSOLO

RNS Number : 5151S

Solo Oil Plc

21 December 2016

FOR IMMEDIATE RELEASE 21 December 2016

SOLO OIL PLC

("Solo" or the "Company")

Spudding of Ntorya-2

Solo is pleased to confirm that the Ntorya-2 appraisal well in the Ruvuma Basin, Tanzania, has now spudded as expected.

Neil Ritson, Solo's Chairman, commented;

"We are delighted to have confirmation of the start of drilling at the Ntorya-2 appraisal well in the Ruvuma Basin. This low risk step-out from the discovery well is anticipated to provide significant encouragement for the development of the field and the results are eagerly awaited."

The well is being drilled to an estimated total depth of 2,860 m targeting the same sandstone channel complex found at Ntorya-1. The well location is 1.5 km from the Ntorya-1 discovery which flowed gas and condensate on test in 2012.

The Company has a 25% non-operating interest in the well, operated by Aminex plc. Initial results are expected early next year.

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

END

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December 21, 2016 10:00 ET (15:00 GMT)

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