Solo Oil and Aminex leap on Ruvuma Basin update

Shares in Solo Oil and Aminex jumped on Thursday morning after the companies announced signficant results from the flow testing of the Ntorya-1 well at its discovery in the Ruvuma Basin onshore in southern Tanzania.

Shares in Solo Oil and Aminex jumped on Thursday morning after the companies announced signficant results from the flow testing of the Ntorya-1 well at its discovery in the Ruvuma Basin onshore in southern Tanzania.

The firms reported that the well flowed gas at a measured rate of 20.1m cubic feet per day (equivalent to 3,350 barrels of oil per day). Original reservoir pressure was indicated at 5,424 pounds per square inch and only small quantities of formation water were produced.

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