Ntorya-1 Discovery Appraisal License Approved

Junior explorer Solo Oil reported Monday that the application for an appraisal license on the Ntorya-1 discovery in Tanzania has been approved by the Tanzanian authorities.

The Ntorya-1 prospect, operated by Aminex, was drilled in the Ruvuma production sharing contract area in 2012 and successfully tested gas at a rate of 20 million cubic feet per day with 139 barrels per day of 53-degree API condensate. ISIS Petroleum Consultants have estimated that a gross volume of 178 billion cubic feet of gas is in place. The operator evaluates this to be contingent resource of 134 billion of recoverable gas.

ISIS also estimated that 1.17 trillion cubic feet of gross un-risked gas in place could be present at Ntorya and that further appraisal would be required to confirm this volume.

The appraisal program will consist of 2D seismic data acquisition to delineate the extent of the Ntorya discovery and the drilling of an appraisal well.

Solo Executive Director Neil Ritson commented in a company statement: 

"This award represents a significant step in the commercialization of gas in the onshore Ruvuma PSA and we look forward to the acquisition of additional seismic later this year.  The conclusion of a farmout with a new partner will also assist in ensuring the work program advances as quickly as possible as there is a large gas resource yet to develop."



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