Aminex sells stake in Tanzanian licence to Solo Oil

Oil and gas explorer Aminex is selling a 3.8% interest in the Kiliwani North Development licence in Tanzania to Solo Oil for $2.16m (£1.49m), the company announced on Thursday.

Aminex (CDI)

1.23p

14:49 15/11/24

-1.33%

-0.02p

FTSE AIM All-Share

728.67

15:45 15/11/24

n/a

Oil & Gas Producers

8,043.72

15:45 15/11/24

1.32%

105.17

Scirocco Energy

0.25p

16:35 16/05/24

0.00%

0.00p

Solo’s stake in the licence will increase to 10% following the completion of the deal. Aminex will remain the majority owner with a 51.75% holding.

Solo had an option to acquire an additional 6.175% interest under a previous agreement with Aminex. The remaining entitlement under the option will expire following the transaction.