Solo says that interest in the farmout of its Ruvuma PSA in Tanzania has been significant and a call for bids is still expected to be made in February. The farmout is being managed on Solo's behalf by joint venture partner, and PSA operator, Aminex plc, with advisors from FirstEnergy Capital LLP.

Further to the announcements made on the 8th October and the 22nd November the Company now confirms that there has been substantial interest in the farmout from companies including both multi-nationals and NOCs.

The Ruvuma PSA covers 6,079 square kilometres on the Tanzanian border with Mozambique where over 100 trillion cubic feet of gas has been discovered in recent years. Solo and Aminex discovered gas at the Ntorya-1 well in 2012 which was tested at over 20 million cubic feet per day of gas and 139 barrels of condensate (53 degree API gravity) on a 1" choke.

Tags: Solo Oil