Solo has announced that the operator of the Ruvuma Petroleum Sharing Contract, Aminex PLC has notified the Company that the 2D seismic acquisition to appraise up-dip portion of the Ntorya-1 discovery is now complete and processing has begun. Fully interpreted results are expected during Q3 2014.
The 2D seismic planned for the Ntorya Appraisal Licence of the onshore Ruvuma Petroleum Sharing Contract totals approximately 180 kilometres and will assist in delineating the Ntorya discovery allowing the optimization of future production wells.
Solo Executive Director Neil Ritson says the data collected will help come up with a monetization strategy.
“Acquisition of the infill seismic data over the Ntorya gas condensate discovery is an important next step in the monetisation process for the discovery. This is especially timely as the commissioning of the new gas pipeline, currently under construction, to the market in Dar es Salaam will make Ntorya especially valuable. We look forward to seeing the results of the processing and interpretation as they are concluded,” says Ritson.
The data was acquired on time and on budget.
Participants in the Ruvuma PSA are currently; Ndovu Resources Ltd (Aminex) 75% (operator) and Solo Oil Plc 25%.