Solo Tanzania Update

abarrelfull wrote on 07 Oct 2011 06:17
Tags: solo tanzania tullow upstream

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Solo Oil plc today announces completion of the assignment of additional interests in the Ruvuma Basin PSA in Tanzania from Tullow Tanzania BV ("Tullow").

Further to the announcement on 8 September 2011, Tanzanian Government approval for the assignment of interest between Tullow and Solo has been received and the assignment has been completed. Solo now has a beneficial interest of 18.75% in the Lindi and Mtwara licences which jointly make up the Ruvuma PSA in onshore Tanzania.

Tullow has also confirmed that Ndovu Resources Limited, a subsidiary of Aminex plc, is now the operator of the PSA. Now that operatorship has been formally transferred; an update on the timing of the planned drilling of the Ntorya-1 well, anticipated to spud during November, is expected shortly.

• Solo Tanzania Update

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