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:

  •  TITAN Containers is one of the largest privately owned companies supplying containers for a multitude of applications.
  • Producing numerous types of welding consumables and welding machines for both the domestic and international market
  • Catering for the most varied industrial storage requirements.
  • Manufacturing and marketing "aira" brand Valve Automation Products
  • Automatic brick manufacturing machines
  • Bakery Equipment, Flour Mill, Bread Improver, Dried Fruit Processing machine
  • Manufacturer of extrusion lines,extruders and down stream equipment.
  • Fuel Metering System
  • Sonmez Makina Ltd. is a manufacturer and exporter company for filling systems of domestic use LPG cylinders.
  • Industrial  machinery
  • Kenya Engineer is a Journal of the Institution of the Engineers of Kenya
  • Ducorr is engaged in the engineering, manufacture & deployment of cathodic protection systems and products.
  • Al Hosni Group International, has the experience and expertise in Construction, Manufacturing, Marketing, Hospitality, Chemicals, Gas services and environmental projects.
  • FAS Flssiggas-Anlagen GmbH, Salzgitter, is one of the leading manufacturers and suppliers of LPG fittings and components for complete stations for the storage
  • Pumps for dewatering, ground water control, sludge and slurry handling.
  • Manufacturer refrigerated-type air dryer, desiccant air dryer and compressed air in-line filter.
  •  K & S Financial Group is the link between the end buyer and a reputable Russian refinery.
  • All type conveyor belts for internal & external location tapis roulant de tout genre pous deplacement a l
  • Ravi Enterprise is a professionally managed organization, established as a reliable source of industrial heaters.
  • Multi feedstock batch processing biodiesel equipment
  •  Global Air Freight Solutions For Oil & Gas Shipments
  • GLOBE GAS specialises in Multi Cylinder installation, Pipeline Installation, LPG Tank (Bulk) Installation, Designing Kitchen Layout etc.
  • Hevt Duty Machinery
  • A world leading name in Heat Transfer Technology
  • Narrowtex is a fully integrated company with processes such as warping, weaving, knitting, dyeing, finishing, make-up and packaging
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2025 Afrotrade