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Solo Oil Plc

Solo Oil plc Disposal of Burj investment completed

Solo Oil (LON: SOLO), a natural resources investment company focused on acquiring a balanced portfolio of production, development and exploration assets, announced today that further to its announcement on the 10th September 2019 regarding the Company’s exit of its 20% investment in Burj Petroleum Africa Limited, no other shareholders in Burj have exercised their pre-emption rights in relation to the proposed sale by Solo during the prescribed period, and therefore the disposal by Solo of its shareholding in Burj has now completed.

Solo has divested its interest in this non-core asset for a nominal fee of £1, and in doing so has also relinquished any future costs associated with Burj.