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Solo Oil Completes Drilling at Ntorya-1 in Tanzania

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Solo Oil reported Monday that it has the completed drilling operations at the Ntorya-1 well in the Ruvuma Basin, onshore southern Tanzania, and also provided an update on its plans for testing the gas discovery.

The Caroil-6 rig has now been released from the Ntorya-1 well and will be demobilized to make way for the wireline testing equipment that has been mobilized and is due to arrive at the site within the next 30 days. A production string has been run in the well and a 'Christmas tree' installed in preparation for the planned test sequence.
 
On Feb. 27, 2012, Solo and Aminex reported that a gas discovery had been made in a 80-foot (25 meter) gross Cretaceous sandstone interval between 8,730 feet and 8,810 feet (2,660 meters and 2,685 meters). This interval will now be tested with a view to establishing the level of production that can be obtained. Results of the testing will be announced once available.
 
Aminex and Solo have also commissioned new geological and seismic studies to establish the extent of the Ntorya discovery and to locate further prospects in the Ruvuma Production Sharing Agreement (PSA) where Solo plans to invite offers from potential partners to participate in the next round of exploration, commencing with the acquisition of additional seismic data later in 2012.
 
Solo holds a 25-percent interest in the discovery and the Ruvuma PSA.
 
"This discovery is ideally located just 20 kilometers from Mtwara where there is an existing gas to power facility and where there are plans to install additional gas facilities and pipelines to commercialise the reported 70 tcf of gas already discovered in the Ruvuma Basin," said Solo Executive Director Neil Ritson. "Having low-cost gas onshore close to Mtwara is a significant advantage and we hope to capitalise on that jointly with Aminex. We also look forward to further exploration in this highly prospective area."
 
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