Solo Oil extends farmout bid deadline

AIM-listed exploration and development company Solo Oil has extended the deadline for receipt of bids for the farm-out of its Ruvuma PSA in Tanzania until March 2013.

In a company statement issued today, Neil Ritson, Solo Executive Director, said: "The level of interest has been very significant and it has not been possible to accommodate all the interested parties in the physical data-room prior to the original bid deadline.

"Several companies have asked for the deadline to be extended in order to allow them to complete their evaluation and we have therefore agreed with Aminex and FirstEnergy Capital LLP to accept bids up until early March."

Solo Oil's share price was unchanged at 0.48p at 11:49 on Tuesday.

MF