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Solo Oil – Capital Network: Risked Value Represents Significant Upside

Written by Lionel Therond

Solo Oil Plc (“Solo”) is a London (AIM) listed oil and gas investment company engaged in the acquisition and development of a diverse global portfolio of oil and gas assets. The company has a core portfolio of non-operated assets in Tanzania, including a stake in the prolific Ruvuma Basin, an interest in the producing Kiliwani North gas development on the Songo Songo Island, and a 10% interest Helium One, including the Rukwa project. Other assets include non-operated interests in the Weald and Wessex Basins (Horse Hill and Isle of Wight) onshore UK, a strategic investment in Burj Africa in Nigeria and an enhanced Oil Recovery project in Ontario, Canada.

We estimate a risked value for the company at $106.4m or GBp1.04 per share, representing a substantial upside to the current stock price. We estimate Core value at $1.2m, based on the value of the production asset of Kiliwani North, adjusted for corporate costs and net cash/debt.

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