M a r k e t N e w s

Tanzanian Assets Explore Options Continued by Solo Oil

Posted on : Wednesday , 9th September 2020

Solo Oil PLC chief executive Tom Reynolds told shareholders in the company’s full-year results statement that they will be prioritized as oil and gas junior explores its options for its portfolio in Tanzania.

His comment comes after the group's relaunch under the new name of Scirocco Energy PLC and its positioning towards the European energy market. The said name change will be voted on at an AGM on September 25.

"During an exceptional time for the industry, we are committed to working hard to deliver our strategy,” Reynolds said.

“We continue to diversify options for the Tanzanian assets, and will ensure any decision is based on the best outcome for our shareholders. In the meantime, we are focused on identifying potential opportunities to grow the company and are encouraged by the pipeline we are seeing, with the current challenges in the industry creating a broader range of opportunities in the European energy market.

he added "We look forward to updating our shareholders as things develop in the coming months.

Recently, in June 2020, the company arranged a US$5mln financing facility to meet its commitments on the Ntorya prospect in Tanzania while it negotiates the sale of its stake.

Financier Prolific Basins is providing the money through a tranched investment structure that Solo said allows it to have a flexible funding option in place, should it be required, for the planned appraisal programme on Ntorya.

Source : www.innzaf.com
Featured Companies
  • GULF WELL SOLUTIONS
  • SKYTRADE GLOBAL ENTERPRISES LTD
  • /
  • MAVI DENIZ CEVRE HIZ A.S
  • Your Banner HERE!

Complete List  

Advertisers in previous issue:

  • Mini plants of toilet paper rolls production
  •  Portwest is a global vertical company with over 100 years of experience in the design, manufacture and supply of protective clothing, safety footwear, specialist gloves and PPE to resellers and distributors at the most competitive prices.
  • Engineering Expo, is Indias largest multi-location trade show on manufacturing
  • Narrowtex is a fully integrated company with processes such as warping, weaving, knitting, dyeing, finishing, make-up and packaging
  • Manufacturer refrigerated-type air dryer, desiccant air dryer and compressed air in-line filter.
  •  SS Gas Lab Asia is a reputed engineering company, engaged in manufacturing of carbon dioxide gas plants, hydrogen gas plants, nitrogen dioxide gas plants, CO2 storage tanks, CO2 transportation tankers and dry ice plants.
  • Manufacturer of heavy duty machinery
  • Manufacturer of extrusion lines,extruders and down stream equipment.
  • We have been at the forefront of plate heat exchanger technology.
  • Chemicals,Environmental & Sewage,Treatment Laborotory;Equipments Analytical Equipments & Instraments;etc.
  • REGO GmbH is the Rego Distribution Center located in Central Germany.
  •  EuropCorr is a company specialized in design, manufacturing, sales and consultancy of corrosion monitoring systems mainly for petrochemical, oil and gas industry.
  •  ABL Machine Tools, One of the group companies of ABL India is India
  • BITZER ranks among the leading manufacturers of refrigerant compressors.
  •  BMC China Exhibition Co., Ltd is the wholly-owned subsidiary of German Enerxy AG Group
  • Manufacturers & Exporters of hand tools, garden tools & leatheer tool pouches.
  • Prisma s.r.l. is an industrial reality, qualified in the study and the production of automatic doors for lift.
  • Ducorr is engaged in the engineering, manufacture & deployment of cathodic protection systems and products.
  • Manufacturing and marketing "aira" brand Valve Automation Products
  • LINTEC doub- le screen technology and the worlds first asphalt mixing plant in 100% ISO sea containers.
  •  Unipro was born to transmit and give its experience in trading high quality safety equipments ensuring high quality products under international standards required in the Oil and Gas, Mining, Construction, automotive, Steel and Chemical industries.
  • All type conveyor belts for internal & external location tapis roulant de tout genre pous deplacement a l
  • Save your power bill by instaling servo voltage stabilizer.
  •  K & S Financial Group is the link between the end buyer and a reputable Russian refinery.
  • We offers high quality, Competitive price and satisfied service always
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2025 Afrotrade