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Solo Oil Plc

Solo Oil Plc Strengthens board with new Director

Solo Oil plc (LON: SOLO), the natural resources investment company focused on acquiring and developing a diverse global non-operated portfolio of strategic oil and gas assets, has today announced the appointment of Tom Reynolds as an Independent Non-Executive Director.

Mr Reynolds is a Chartered Engineer with over 25 years’ experience in the energy sector, including a range of technical and commercial roles with BP plc, Total SA and British Nuclear Fuels plc. He has also held management positions at private equity investment and advisory firms, including 3i plc, and specialises in strategic planning, investment management and cross-border M&A transaction execution in the oil, gas, energy and infrastructure sectors.

Mr Reynolds has considerable experience in the public markets, particularly in the oil & gas sector, including holding board seats on various companies listed in London, Oslo and Toronto. Most recently, he was CEO of Iona Energy Inc. and, immediately prior to that, he was CEO of Bridge Energy ASA, which Mr Reynolds grew through a series of acquisitions before listing the group in both Oslo and London, prior to its c.US$150m sale to HitechVision-backed Spike Exploration Holding AS in 2013, a valuation which represented a c. 50% share price premium.

Alastair Ferguson, Solo Oil plc Chairman, commented:

“I am delighted to welcome Tom as our new Independent Non-Executive Director. We understand the importance of having an independent influence on the Board, particularly as we seek to execute our newly refined strategy. We are confident that Tom’s considerable industry and capital markets experience will add value to the Solo Board as we take the Company forward on a sustainable path for long-term growth.”