FOR IMMEDIATE RELEASE, 7:00 am 9 January 2017
SOLO OIL PLC
("Solo" or the "Company")
Operational Update Ntorya-2, Tanzania
Solo today provides an update on the progress of the Ntorya-2 appraisal well in Tanzania operated by Aminex plc ("Aminex"). The vertical Ntorya-2 appraisal well was spudded on 21 December 2016 and has a planned total depth of 2,860 metres.
Aminex has provided the following update:
· The 17-inch hole section was successfully cased and cemented to a depth of 1,326 metres on 5 January 2017.
· The well is currently drilling in the 12-inch hole section which commenced on 7 January 2017 and is planned to reach a depth of 2,095 metres, and will then be cased and cemented.
· The well is then planned to be drilled in a 8 ½-inch hole section through the target Cretaceous formation to an estimated final depth of 2,860 metres. A 7-inch cemented liner is planned and detailed analysis of the well data will be conducted.
· Once a permanent completion has been set the well is expected to be flow tested.
This well is targeting the same sandstone channel complex as the Ntorya-1 discovery which flow-tested gas at 20 million cubic feet per day, with 139 barrels of associated condensate, from a 3.5-metre sandstone interval.
The Company has a 25% non-operating interest in the well, which isoperated by Aminex.
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 Relations Stefania Barbaglio | +44 (0) 20 7408 4090 +44 (0) 20 7382 8300 +44 (0) 79 4969 0338 |
Glossary:
discovery | a petroleum accumulation for which one or several exploratory wells have established through testing, sampling and/or logging the existence of a significant quantity of potentially moveable hydrocarbons |
This information is provided by RNS
Solo Oil plc published this content on 09 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 January 2017 08:38:05 UTC.
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