Solo Oil Plc

Helium One

BACKGROUND

In March 2017, Solo acquired a 10% interest in Helium One Limited (Helium One) for a total consideration of £2.55 million in cash and shares. Subsequently Solo assisted Helium One through a Technical Services Agreement which allowed Solo to increase its holding to 15%. In mid-2018 Helium One raised US$2 million in pre-drill funding with Solo’s holding now approximately 13.8%.

HIGHLIGHTS

  • Early entry into the global helium market estimated to be worth over US$6 billion annually

Helium One is an independent specialist explorer focussed on delineating and developing globally significant helium assets in Tanzania, Solo Oil PLC (LON:SOLO) has a 15% equity in the company.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.