Solo Oil Plc Update - Kiliwani North Gas Field, Tanzania (2138E)
February 06 2015 - 02:00AM
UK Regulatory
TIDMSOLO
RNS Number : 2138E
Solo Oil Plc
06 February 2015
FOR IMMEDIATE RELEASE, 7 am 6 February 2015
SOLO OIL PLC
("Solo" or the "Company")
Update - Kiliwani North Gas Field in Tanzania
Solo today announces that the operator of the Kiliwani North
("KN") gas field, Aminex plc ("Aminex"), have advised the partners
that the newly constructed gas export pipeline from the Songo Songo
processing plant to the KN-1 gas well has been completed to within
approximately 20 metres from the KN-1 production well-head.
The KN-1 well, when connected to the export pipeline, is
expected to produce at least 20 million cubic feet per day.
Solo announced on 3 February 2014 that it has signed the Asset
Purchase Agreement with Aminex plc ("Aminex") for the first 6.5%
interest in the Kiliwani North Development Licence ("KNDL"). Solo
has the option to purchase an additional 6.5% interest, during a
period of 30 days after the Gas Sales Agreement ("GSA") has been
approved by the Tanzanian Authorities.
Neil Ritson, Solo's Chairman, commented:
"As we reach the point of gas commercialisation we are naturally
tracking the process very closely and shortly expect to see final
hook-up and pressure testing get underway. With the imminent
hook-up we also remain extremely confident that the GSA will be
signed in time to commence exports of gas from the field as soon as
the facilities are complete."
Qualified Person's Statement:
The information contained in this announcement has been reviewed
and approved by Neil Ritson, Chairman and Director for Solo Oil Plc
who has over 35 years of relevant experience in the oil industry.
Mr. Ritson is a member of the Society of Petroleum Engineers, an
Active Member of the American Association of Petroleum Geologists
and is a Fellow of the Geological Society of London.
For further information:
Solo Oil plc
Neil Ritson
Fergus Jenkins +44 (0) 20 7440 0642
Beaumont Cornish Limited
Nominated Adviser and Joint
Broker
Roland Cornish +44 (0) 20 7628 3396
Old Park Lane Capital Plc
Joint Broker
Michael Parnes
Zoe Alexander
Shore Capital
Joint Broker
Pascal Keane
Jerry Keen (Corporate Broker)
Bell Pottinger +44(0) 20 7493 8188
Public Relations +44 (0) 20 7408 4090
Henry Lerwill +44 (0) 20 3772 2500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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