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Solo Oil Plc

Solo Oil Plc Helium One Management Changes

Solo Oil Plc (AIM: SOLO), a natural resources investment company focused on acquiring a balanced portfolio of production, development and exploration assets, notes the appointment of Ian Stalker as new Managing Director of Helium One Limited (Helium One) with immediate effect.

Commenting on the update, Solo’s Executive Chairman Alastair Ferguson said:

“We are pleased to see such a high calibre appointment at Helium One and think this reflects the high level of potential associated with this exciting growth company. Through our Board representation on Helium One, with Tom Reynolds acting as a Non-executive Director, we will continue to maintain close dialogue with Ian and his team, and offer our technical and commercial counsel as required, as we seek to enhance the value of our investment in the company.”

Solo holds a 13.8% interest in Helium One which owns the Rukwa Project in Tanzania, that has an estimated Unrisked Prospective Recoverable Helium Volume (P50) of 98.9 billion standard cubic feet.

Mr Stalker is an international mining executive with over 40 years’ experience. Mr Stalker was previously Chief Executive Officer of London and TSX listed Uramin Inc. until its US$2.5 billion sale to Areva in August 2017. Most recently, he has acted as the Chief Executive Officer of LSC Lithium and as an advisor to First Cobalt. He has also previously held several C-suite level positions, including Vice President of Gold Fields and Chairman of Plateau Energy Metals.

Commenting on the changes, Helium One’s Chairman Neil Herbert said:

“Ian has a lifetime of experience of taking projects from exploration to production and will lead the Company as it advances towards drilling our prospects in Tanzania. Ian and I have worked together in the past, notably as Managing Director and Finance Director of UraMin Inc which was sold for US$2.5 billion, and we are delighted to be working as a team again. We thank our outgoing Managing Director Thomas Abraham-James, who has managed Helium One since its inception and overseen US$11 million of investment by shareholders to advance exploration, and wish him every success for the future.”

Change of Registered Office

Solo Oil (LON: SOLO), announces that its registered office has changed with immediate effect to 1 Park Row, Leeds LS1 5AB.

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