Solo Oil Plc Ntorya-2 Update, Tanzania (9544X)
February 27 2017 - 8:00AM
UK Regulatory
TIDMSOLO
RNS Number : 9544X
Solo Oil Plc
27 February 2017
FOR IMMEDIATE RELEASE, 2:00pm 27 February 2017
SOLO OIL PLC
("Solo" or the "Company")
Ntorya-2 Update, Tanzania
Further to the Company's announcement of 6 February 2017, Solo
today confirms that production testing on the recently drilled
Ntorya-2 ("NT-2") appraisal well commenced on 25 February 2017 and
gas is now flowing to surface. The well will be tested with a
variety of flow rates and choke sizes to determine the optimal
deliverability of the well for production purposes. The Company now
expects to have results of the production testing and petrophysical
analysis by mid-March.
Solo has a 25% non-operating interest in the Ruvuma PSA, and in
the Ntorya discovery and Ntorya-2 well, which is operated by Aminex
plc.
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
The information contained in this announcement has been reviewed
and approved by Neil Ritson, Chairman and Director of Solo Oil plc
who has over 38 years of relevant experience in the energy sector.
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.
Glossary:
appraisal the collection of additional
data, usually in the form of
additional wells, on an existing
discovery prior to sanctioning
a development plan
------------------- -----------------------------------------
flow or production a flow test or well test involves
test testing a well by flowing fluids
to surface, typically through
a test separator. Key measured
parameters are water, oil and
gas flow rates, downhole pressure
and surface pressure. The overall
objective is to identify the
well's capacity to produce hydrocarbons
at a commercial flow rate
------------------- -----------------------------------------
PSA petroleum sharing agreement or
contract
------------------- -----------------------------------------
petrophysics the study of the physical and
or petrophysical chemical properties of rock formations
analysis and their interactions with fluids
------------------- -----------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCMMGZZFNKGNZM
(END) Dow Jones Newswires
February 27, 2017 09:00 ET (14:00 GMT)
Scirocco Energy (LSE:SCIR)
Historical Stock Chart
From Apr 2024 to May 2024
Scirocco Energy (LSE:SCIR)
Historical Stock Chart
From May 2023 to May 2024