Solo set to acquire firm with rights to mine in Argentina

Solo Oil is to acquire Ilakon, a wholly-owned subsidiary of Obtala Resources which holds the rights to the Mina El Carmen block in Argentina.

Solo Oil is to acquire Ilakon, a wholly-owned subsidiary of Obtala Resources which holds the rights to the Mina El Carmen block in Argentina.

A binding heads of agreement has been signed with Obtala in an all shares transaction valuing the block, which covers 4,940 acres on the northern side of the Golfo San Jorge basin, at $750,000.

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