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Oil Capital

Solo Oil raises £2mln with plans to increase stake in Horse Hill

Neil Ritson, chief executive of Solo Oil PLC (LON:SOLO) discusses with Proactive their £2mln share placing and plans to acquire an additional stake in the Horse Hill oil project in southern England.

Solo's agreed a deal with Primorus Investments Plc to acquire a 5% stake in the HHDL vehicle which owns 65% of Horse Hill.

The transaction increases Solo’s holding in HHDL to 15%, giving the company an effective 9.75% interest in the underlying oil project.

 

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