Solo Oil kicks off remediation work at Tanzanian interest

29th Aug 2018 08:12

(Sharecast News) - London-listed forms Solo Oil and Aminex updated investors on their Tanzanian operations on Wednesday morning.Aminex told shareholders that pressure at the Kiliwani North-1 well had continued to build up, with the company having now begun remediation work on the well.The firm plans to repair a faulty valve during the current quarter, which is expected to allow for gas to flow from the well and evaluate operational parameters at the reservoir and gas processing facility.Pending approvals, Aminex will then proceed to perforate a lower untested and potentially gas-bearing section of the reservoir system during the fourth quarter before bringing the well back to full-time production.Solo holds a 7.55% interest in Kiliwani North-1.Aminex's chief executive Jay Bhattacherjee, said: "The company believes that, given the significant production surrounding Songo Songo Island and the geological properties identified in Kiliwani North, there remains significant opportunities to pursue additional development of the Kiliwani North Development Licence as all the commercial terms are already in place."As of 0930 BST, Solo shares had fallen 1.68% to 2.21p, while Aminex had dipped 0.61% to 2.04p.