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Aminex and Solo Oil say Tanzania farm out talks continue


Venture partners Aminex (LON:AEX) and Solo Oil (LON:SOLO) have told investors that talks are continuing with a number of parties that are interested in farming into their project in Tanzania.

Investors are eagerly awaiting news of the farm-out programme, and the partners say a further announcement will be made in due course.

Solo, along with its partner Aminex, is trying to sell a stake in its Ruvuma basin prospects in Tanzania, which are located near the massive offshore gas field development projects in East Africa.

It is understood that major oil firms and national oil companies are interested in the blue sky prospects, which have already yielded onshore discoveries.

Currently Aminex has a 75% stake in the Ruvuma production sharing agreement and Solo has the other 25%.



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Price: 0.75 GBX

Market: LSE
Market Cap: £28.28 m

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on 19/7/18

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