Solo Oil provides update on proposed transaction with ONE Dyas

Solo Oil, the AIM investing company, targeting attractive production and development opportunities within the European gas market, has announced that, further to the update provided by the Company on the 20^th December 2019, the Company remains in discussion with ONE Dyas with a view to renegotiating terms on the proposed transaction in order to enable the deal to proceed.

As part of the Proposed Transaction, the Board continues to assess all debt and equity funding options available to the Company.

Additionally, the Board continues to progress a number of complementary business development opportunities in line with its European gas strategy.

The Board reiterates that there can be no guarantees that the Proposed Transaction will proceed and intends to provide a further update to market as soon as possible.

See related article: Solo Oil acquires Dutch North Sea assets from ONE-Dyas

Source: Energy-pedia