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Solo Oil raises £2mln with plans to increase stake in Horse Hill

Neil Ritson, chief executive of Solo Oil PLC (LON:SOLO) discusses with Proactive their £2mln share placing and plans to acquire an additional stake in the Horse Hill oil project in southern England.

Solo's agreed a deal with Primorus Investments Plc to acquire a 5% stake in the HHDL vehicle which owns 65% of Horse Hill.

The transaction increases Solo’s holding in HHDL to 15%, giving the company an effective 9.75% interest in the underlying oil project.

Quick facts: Solo Oil PLC

Price: 2.425 GBX

AIM:SOLO
Market: AIM
Market Cap: £15.32 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