Update - Kiliwani North Gas Field, Tanzania

RNS Number : 2084F

Solo Oil Plc

18 February 2015

 

                                                                                     18 February 2015

SOLO OIL PLC

("Solo" or the "Company")

Update - Kiliwani North Gas Field, Tanzania

Solo today announces that, further to its update provided on 6 February, the operator of the Kiliwani North Development Lease ("KNDL"), Aminex plc ("Aminex"), have advised the partners that the pipeline construction from Songo Songo is now complete and Tanzanian Petroleum Development Corporation ("TPDC"), through its contractors, is now constructing the Skid Metering Unit within the boundaries of the KNDL prior to tying-in the Kiliwani North-1 ("KN-1") wellhead.

The KNDL joint venture has also been notified by TPDC that pressure testing of the pipeline is expected to commence shortly and the final construction of equipment to connect KN-1 is expected within the same timeframe.The KN-1 well, when connected to the export pipeline, is expected to produce at least 20 million cubic feet per day.  Gas from KN-1 will be processed at Songo Songo and then join the pipeline to the Dar es Salaam market.

Solo can also confirm that on final closing of the transaction to acquire an initial 6.5% interest in the KNDL, which is expected shortly, it will become party to the KNDL Joint Operating Agreement and the Gas Sales Agreement which is expected to be signed shortly.

Neil Ritson, Solo's Chairman, commented:

"As the construction and commissioning of the Dar es Salaam to Mnazi Bay pipeline nears completion and the final stages of construction have begun on the Kiliwani North-1 well, we look forward to first commercial gas production from the field."

Qualified Person's Statement:

The information contained in this announcement has been reviewed and approved by Neil Ritson, Chairman and Director for Solo Oil Plc who has over 35 years of relevant experience in the oil industry.  Mr. Ritson is a member of the Society of Petroleum Engineers, an Active Member of the American Association of Petroleum Geologists and is a Fellow of the Geological Society of London.

For further information:

Solo Oil plc Neil Ritson Fergus Jenkins	[phone]
Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish	[phone]
Old Park Lane Capital Plc Joint Broker Michael Parnes Zoe Alexander Shore Capital Joint Broker Pascal Keane Jerry Keen (Corporate Broker) Bell Pottinger                            Public Relations Henry Lerwill	[phone] [phone] [phone]

 

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