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Solo Oil PLC

Solo Oil Plc rejigs Horse Hill position for greater exposure across Weald Basin

Dan Maling, managing director of Solo Oil PLC (LON:SOLO), discusses with Proactive's Andrew Scott the decision to swap their stake in the Horse Hill discovery for shares in UK Oil & Gas Investments PLC (LON:UKOG).

Maling says they've entered into a conditional sale and purchase agreement to dispose of their entire 15% interest in the project for £4.5 million which has been used to purchase a 4.2% stake in UKOG.

For UKOG, the transaction increases its stake in the Horse Hill discovery to 46.73% (as it will hold 71.9% of the HHDL vehicle which owns 65% of the underlying asset).

Quick facts: Solo Oil PLC

Price: £0.02

Market: AIM
Market Cap: £10.42 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