Solo Oil Plc Disposal of Burj investment completed (0618P)

TIDMSOLO

RNS Number : 0618P

Solo Oil Plc

08 October 2019

8 October 2019

Solo Oil plc

("Solo" or "the Company")

Disposal of Burj investment completed

Solo Oil (AIM: SOLO), a natural resources investment company focused on acquiring a balanced portfolio of production, development and exploration assets, announces that further to its announcement on 10 September 2019 regarding the Company's exit of its 20% investment in Burj Petroleum Africa Limited ("Burj"), no other shareholders in Burj have exercised their pre-emption rights in relation to the proposed sale by Solo during the prescribed period, and therefore the disposal by Solo of its shareholding in Burj has now completed.

Solo has divested its interest in this non-core asset for a nominal fee of GBP1, and in doing so has also relinquished any future costs associated with Burj.

For further information:

 
 Solo Oil plc 
  Alastair Ferguson                         +44 (0) 20 7440 0642 
 
  Strand Hanson 
   Nominated & Financial Adviser 
   Rory Murphy / James Spinney / Ritchie 
   Balmer                                    +44 (0) 20 7409 3494 
  Shore Capital 
   Broker 
   Jerry Keen 
   Buchanan 
   Financial PR 
   Ben Romney / Kelsey Traynor/ James        +44 (0) 20 7408 4090 
   Husband                                    +44 (0) 20 7466 5000

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