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Solo Oil boss hails gas sales deal in Tanzania as a “major milestone”

Aminex (LON:AEX) told investors today that its long-awaited gas sales agreement for the Kiliwani North gas field has been signed.

Solo Oil (LON:SOLO) has a more than 6% stake in the venture and Proactive spoke to Neil Ritson, Solo’s chairman, following the announcement.

He said the parties had been waiting for the Tanzanian market to develop the pipeline and put infrastructure and gas processing in place for “some time”.

The deal means gas production and first revenues from Tanzania for both Solo and Aminex.

Quick facts: Solo Oil PLC

Price: 1.25 GBX

Market: AIM
Market Cap: £7.9 m

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Solo Oil's Neil Ritson on Horse Hill, Ruvuma and plans to refresh the team

Neil Ritson, chairman of Solo Oil PLC (LON:SOLO), discusses with Proactive's Andrew Scott the first batch of production testing results from Horse Hill,  the decision by their partner at Ntorya, Aminex plc (LON:AEX) to farm-out two-thirds of its 75% interest in the project and the...

on 19/7/18

2 min read