Solo Oil is an oil and gas investment company with aims to acquire and develop a diverse global portfolio of oil and gas assets. Solo Oil currently has non-operated oil and gas assets in Tanzania, UK and Canada. It's strap line is "To acquire a widely distributed mix of oil and gas development and production across the world."
Solo Oil Plc Ord 0.20P is listed on the London Stock Exchange trading with ticker code SOLO.L, and is part of the Metals sector. It has a market capitalisation of £1,042m, with approximately 632m shares in issue. Over the last year, Solo Oil share price has been traded in a range of 2.05, hitting a high of 3.30, and a low of 1.25.
Solo Oil, officially known as Solo Oil Plc Ord 0.20P was formed in August of 2005, making the company fourteen years old. The company filed its latest accounts on 31st December 2014. Solo Oil currently has 4 directors, and has had 10 previous directors over the last 14 years. In the last set of accounts produced by Chapman Davis Llp, the company showed 357 thousand paid in salaries to the 2 staff (average wage of 179 thousand), with the directors receiving an average 89 thousand each. In the accounts filed in 2014, the company paid 0 in dividends. These accounts also showed Solo Oil to have a net worth of 4.29 million, with 2.02 million held in cash.
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|Shares in Issue||632m|
|52 Week High||3.30|
|52 Week Low||1.25|
Solo Oil is a ‘Buy’ at the current price levels as the stock has had corrected quite a lot after the spectacular rally. Therefore, in terms of valuations, it looks slightly underpriced. The stock finished trading on the London Stock exchange at 0.97p a share, up by 0.97% compared to the previous closing. Currently, the stock has been trading below its 20 day moving average (DMA), 50 DMA and above 100 DMA of 0.53p, 0.58p and 0.450p respectively. A few months back, the stock has had a spectacular rally and has even gone up to 0.89p but couldn’t sustain it and have been correcting after making a high of 0.89p. However, the technical analysis indicates that now the stock would be consolidating and once it’s done with its consolidation, fresh buys or longs can be initiated. The immediate support for the solo oil lies at 0.480p and if the stock would be able to sustain it, that means fresh longs can be initiated as currently the company is pretty undervalued in terms of valuation and fundamental analysis. The immediate resistance for the stock would be 0.55p and 0.60 p respectively. Therefore traders or investors need to keep an eye at the respective levels and accordingly build or hedge their positions respectively. (Read more)
Solo oil should be a compelling ‘Sell’’ or should be avoided for the time being. The company announced its half yearly result, last month on 14th September. The chairman’s statement on the results is as follows: (Read more)
Solo Oil Plc (Solo) is a United Kingdom-based oil and gas investment company and has a market cap of £15.11m. The Company is principally engaged in the acquisition of a portfolio of direct and indirect interests in exploration, development and production oil and gas assets which are based in the Americas, Europe or Africa. Solo has a 25% interest in the Ruvuma petroleum sharing agreement (PSA) in the south-east of Tanzania. Solo holds a 6.5% interest in the Kiliwani North Development License (KNDL) on Songo Songo Island. Solo also holds a 10% interest in Horse Hill Developments Limited (HHDL), which is a 65% interest holder in two petroleum exploration and development licenses (PEDL), PEDL 137 and 246, in the northern Weald Basin between Gatwick Airport and London. Solo owns a 28.56% interest in 23,500 acres of petroleum leases in southern Ontario. Solo also holds a 15.9% interest in Burj Petroleum Africa Limited. (Read more)