initial stake<\/a> in Helium One to be a core investment of the Company with significant potential upside. Solo will therefore continue to play an important role in supporting Helium One as it progresses its strategic helium assets in Tanzania,\u201d the company said in a statement.<\/p>\nFollowing the decision to withdraw the Notice of General Meeting the company says it will outline its future investment plans and strategy during the Annual General Meeting slated for later in the year.<\/p>\n
Solo Oil has a 10%\u00a0interest in Helium One Limited\u00a0for a total consideration of\u00a0\u00a32.55 million and had an\u00a0option\u00a0to increase its investment in the company by a further 10%,\u00a0for an additional investment of\u00a0\u00a34\u00a0million, which would have increase its\u00a0stake to 20%.<\/p>\n","protected":false},"excerpt":{"rendered":"
Solo Oil has\u00a0announced that it will now not exercise the call option with Helium One and has terminated plans to raise funds to complete that transaction. As a result the … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":5921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[5996,6162,1784,2342,2466],"class_list":["post-5991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-helium-one","tag-horse-hill-oil-discovery","tag-ntorya","tag-solo-oil","tag-tanzania","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/rukwa-map-2017.jpg?fit=800%2C639&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1yD","jetpack-related-posts":[{"id":6516,"url":"https:\/\/www.oilnewskenya.com\/index.php\/solo-oil-secures-5-million-fund-tanzania-operations\/","url_meta":{"origin":5991,"position":0},"title":"Solo Oil Secures $5 Million to Fund Tanzania, Horsehill Operations","author":"","date":"November 14, 2017","format":false,"excerpt":"Solo Oil\u00a0has entered into a Convertible Loan Agreement with institutional investors arranged by RiverFort Global Capital for a total maximum commitment of US$5 million.\u00a0 The Company has also drawn a first tranche of US$1.5 million, with subsequent drawings against the facility to be at the Company's sole election. The First\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/solo-oil.jpg?fit=320%2C320&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5804,"url":"https:\/\/www.oilnewskenya.com\/index.php\/solo-oil-invests-in-tanzanias-helium-one-project\/","url_meta":{"origin":5991,"position":1},"title":"Solo Oil Invests in Tanzania\u2019s Helium One Project","author":"","date":"March 22, 2017","format":false,"excerpt":"Solo Oil has announced that it has agreed to acquire a 10%\u00a0interest in Helium One Limited \u00a0for a total consideration of\u00a0\u00a32.55 million \u00a0and has also been granted a 90-day call option to increase its investment in the company by a further 10%,\u00a0for an additional investment of\u00a0\u00a34\u00a0million, which would increase its\u00a0stake\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/solo-oil.jpg?fit=320%2C320&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5920,"url":"https:\/\/www.oilnewskenya.com\/index.php\/helium-one-completes-airborne-gravity-gradiometry-agg-magnetic-survey-over-the-rukwa-and-balangida-licences\/","url_meta":{"origin":5991,"position":2},"title":"Helium One Completes Airborne Gravity Gradiometry (AGG), magnetic survey over the Rukwa and Balangida licences","author":"","date":"May 9, 2017","format":false,"excerpt":"Helium One have now completed the acquisition of extensive airborne geophysical data with the preliminary grids expected to be received later in May 2017. In parallel with this and to complement that data, after successful analysis of the soil micro-seepage survey completed in 2016, a further more detailed soil geochemistry\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/rukwa-map-2017.jpg?fit=800%2C639&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/rukwa-map-2017.jpg?fit=800%2C639&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/rukwa-map-2017.jpg?fit=800%2C639&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/rukwa-map-2017.jpg?fit=800%2C639&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":2829,"url":"https:\/\/www.oilnewskenya.com\/index.php\/solo-oil-2-million-share-placement-fund-uk-tanzania-investments\/","url_meta":{"origin":5991,"position":3},"title":"Solo Oil raises \u00a32 million through share placement to fund UK, Tanzania Investments","author":"","date":"April 21, 2015","format":false,"excerpt":"Solo Oil has raised \u00a32,000,000 gross proceeds through the issue of 363,636,364 new ordinary shares funds of which will be deployed as working capital in the Company's active investments in both Tanzania and the UK. According to Solo Oil chairman Neil Ritson the funds will be used to develop discoveries\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/solo-oil.jpg?fit=320%2C320&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":815,"url":"https:\/\/www.oilnewskenya.com\/index.php\/solo-oil-starts-2d-seismic-at-tanzania-ntorya-1-site\/","url_meta":{"origin":5991,"position":4},"title":"Solo Oil starts 2D seismic at Tanzania Ntorya-1 site","author":"Samuel Kamau Mbote","date":"March 28, 2014","format":false,"excerpt":"Solo Oil has announced\u00a0that it has been informed by the operator that the seismic data required to assist in the selection of future drilling locations at the onshore Ntorya gas-condensate discovery is currently underway in south-east Tanzania. A programme of up to 250 kilometres of full-fold 2D seismic is currently\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/ntorya.jpg?fit=542%2C365&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/ntorya.jpg?fit=542%2C365&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/ntorya.jpg?fit=542%2C365&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6716,"url":"https:\/\/www.oilnewskenya.com\/index.php\/helium-one-looks-australian-bourse-financing-tanzania-operations\/","url_meta":{"origin":5991,"position":5},"title":"Helium One Looks to the Australian Bourse to Financing Tanzania Operations","author":"","date":"January 22, 2018","format":false,"excerpt":"Helium One has informed its shareholders of various financing options available to fund ongoing exploration activities.\u00a0 One of these options may involve undertaking an initial public offering (IPO) on the Australian Securities Exchange (ASX).\u00a0 To this end, Helium One has appointed PAC Partners Pty Limited to review the options associated\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/Helium-One.jpg?fit=695%2C556&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/Helium-One.jpg?fit=695%2C556&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/Helium-One.jpg?fit=695%2C556&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=5991"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5991\/revisions"}],"predecessor-version":[{"id":5992,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5991\/revisions\/5992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/5921"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=5991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=5991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=5991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}