Solo Oil has been told by the Ruvuma Petroleum Sharing Agreement (PSA) operator, Aminex plc, that a rig contract has now been signed for the drilling of the Ntorya-2 appraisal well in the Ruvuma basin. The Carol#2 drilling rig, which is currently on the Ntorya-1 well pad, will shortly be mobilised to the Ntorya-2 pad which is located approximately 1.5 kilometres to the southwest. The contract is for one firm well, with an option for a second well. The Company has a 25% working interest in the Ruvuma PSA and the Ntorya-2 well is a key appraisal of the Ntorya-1 discovery which flowed 20 million standard feet per day with 139 barrels of associated condensate. Aminex further advises that it remains on track to spud Ntorya-2 during Q4 2016.
-0.02p (-7.84%)delayed 18:15PM