StockMarketWire.com - Solo Oil welcomed progress at a joint venture that is aiming to develop the Kiliwani North oil prospect in Tanzania.

Operator and partner Aminex announced that reprocessing of 2D seismic lines had been completed, with minor reiterations requested from the processor.

Data from the reprocessing would benefit the design of a 3D seismic survey and remapping of the licence.

Aminex also confirmed that it had continued to source equipment to perform re-entry and remedial work at the Kiliwani North-1 well.

The re-entry would investigate fluid levels in the well and provide an accurate bottom-hole pressure measurement.

'We are wholly supportive of the operator's proposed work programme that aims to move the JV closer to re-establishing production from the field, whilst also gaining important reservoir data that can be used for future field development,' Solo executive chairman Alastair Ferguson said.

'The company believes there is good upside potential to be realised from this asset and we look forward to reviewing the final data alongside the operator.'



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