- Natural gas explorer Solo Oil US-based specialist energy-focused investor Prolific Basins had agreed to purchase up to $5m of the company's shares.

Prolific Basins had agreed to invest an initial sum of $0.5m, with an additional $0.5m to be invested following the company's next annual general meeting.

A further $1m may be invested within the next 12 months and an extra $3m afterward.

Solo Oil said the proceeds would fund a planned appraisal programme on its Ntorya gas field in Tanzania and for general working capital purposes.

At 9:42am: [LON:SOLO] Solo Oil PLC share price was +0.05p at 1.1p

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