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Solo Oil PLC

Solo Oil PLC now a 'significant cash generator' & targeting 20,000 boepd in 5 years

Tom Reynolds, CEO of Solo Oil PLC (LON:SOLO) which is soon to become Scirocco Energy, talks Proactive London's Andrew Scott through their acquisition of new producing assets in the Dutch offshore. 

''What's very interesting for us is that the portfolio contains both producing assets which generate cashflow and also a backlog of development opportunities where we can recycle that cashflow into and grow value for our shareholders'' 

''The board set out a new strategy back in April that we were going to grow a production-orientated business in the European gas market targeting 5000 boepd within three years''.

''Today we've updated that … based on the progress to date and the confidence we have in being able to add further production through both organic growth and also by further acquisition we believe we can growth the company to 20,000 boepd within five years''

Quick facts: Solo Oil PLC

Price: 2.425 GBX

Market: AIM
Market Cap: £15.32 m
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Solo Oil: Analyst Malcolm Graham-Wood expects 'significant valuation uplift'...

Analyst and commentator Malcolm Graham-Wood says this week's acquisition by Solo Oil (LON:SOLO) of producing natural gas fields in the Dutch section of the North Sea 'ticks all the boxes'. ''I was really impressed by this to be honest''. ''This deal they've done really does hit every nail...

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