Solo Confirms Presence of Gas Resources at Tanzanian Assets

Junior energy firm Solo Oil has confirmed the presence of gas resources at its Kiliwani North Development License (KNDL) and Ruvuma Petroleum Sharing Contract (PSC) assets in Tanzania.

A technical evaluation by Senergy found 44 billion cubic feet of gross mean gas at KNDL, where Solo holds a 6.5 percent working interest, and 153 Bcf of gross mean gas at Ruvuma’s Ntorya-1 discovery. Following Senergy’s report, which attributed a total of 3 trillion cubic feet of gross mean gas at the Ntorya Updip, Namisange, Likonde Updip and Sudi projects, these four zones were all high graded to drillable targets.

Solo Oil Chairman Neil Ritson commented in a company statement:

"We are extremely pleased that an independent analysis of our various Tanzanian assets has again confirmed the presence of contingent gas resources in both Kiliwani North and Ntorya, along with considerable upside.  We look forward to the commencement of gas sales at Kiliwani and to the announcement of further plans to appraise the Ntorya gas condensate discovery. Tanzania represents a major part of our portfolio and we are excited by the potential it represents."

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