logo-loader
Solo Oil PLC

Solo Oil Plc rejigs Horse Hill position for greater exposure across Weald Basin

Dan Maling, managing director of Solo Oil PLC (LON:SOLO), discusses with Proactive's Andrew Scott the decision to swap their stake in the Horse Hill discovery for shares in UK Oil & Gas Investments PLC (LON:UKOG).

Maling says they've entered into a conditional sale and purchase agreement to dispose of their entire 15% interest in the project for £4.5 million which has been used to purchase a 4.2% stake in UKOG.

For UKOG, the transaction increases its stake in the Horse Hill discovery to 46.73% (as it will hold 71.9% of the HHDL vehicle which owns 65% of the underlying asset).

Quick facts: Solo Oil PLC

Price: £0.01

Market: AIM
Market Cap: £8.69 m
Follow

Watch

Solo Oil reveals plans to acquire its way to 5,000 barrels of production per day

Solo Oil PLC’s (LON:SOLO) executive chairman Alastair Ferguson discusses with Proactive London their acquisitive new strategy for growth. Ferguson says they're aiming to build a portfolio of new assets capable of producing some 5,000 boepd within three years. This fundamental change...

on 22/3/19

2 min read

;