Solo Oil, the AIM investing company targeting attractive production and development opportunities within the European energy market, has announced its audited annual results for the period ended 31 December 2019.

Period and Post-Period Highlights

• Launched new company strategy as set out in March 2019 to identify assets within the European energy market for long-term sustainable growth
• Proposed name change to Scirocco Energy subject to shareholder approval at the 2020 Annual General Meeting (‘AGM’)
• Formal process ongoing to explore value realisation for its assets in Tanzania with encouraging level of interest
• In April 2020, the Joint Venture for the Ruvuma asset received the extension of the Mtwara Licence in respect to the Ntorya Location from the Ministry of Energy of Tanzania

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Source: Energypedia