Buchanan advises Solo Oil on Tanzanian investment

Buchanan is advising Solo Oil on its acquisition of a 10% interest in Helium One, a private helium exploration and production company in Tanzania.

Solo Oil

Buchanan’s sector specialist team, comprised of partner Ben Romney, account director Chris Judd and account executive Henry Wilson is advising Solo Oil.

Solo, an oil and gas investment company, which focuses on acquiring and developing a portfolio of strategic assets, has acquired a 10% interest in Helium One for a total consideration of £2.55m. It has a 90-day option to increase its interest to 20%.

Dan Maling, finance director at Solo Oil, said: “We’re pleased to have Buchanan on board, and look forward to working with a team that possesses a diverse skill-set and a strong reputation in the oil and gas sector.”

The transaction expands Solo’s presence in Tanzania which already includes production from Kiliwani North and 25% interest in the Ntroya gas discovery in Ruvuma Basin.  The company’s portfolio also includes investments in UK, Nigeria and Canada

Ben Romney, partner at Buchanan, added: “We look forward to providing Solo Oil with ongoing communications as the company’s story develops.”


Related Posts
Opinion: How challenger agencies can compete with the big agency networks
Barbara Bates, global CEO at Hotwire, highlights the key areas where challenger agencies can go the extra mile to compete with their larger counterparts. For a long time in [...]
60 Seconds with The Academy co-founder Mitch Kaye
60 Seconds with The Academy co-founder Mitch Kaye
Mitch Kaye, co-founder of The Academy, reveals why he and Dan Glover started their second agency, how the pair work together and his love of AFC Bournemouth. What made you [...]
Discover how PR can move from evolution to revolution
At CommsCon earlier this month, we heard a range of fantastic speakers articulate their view of what comms professionals can do to improve their output. They encouraged their [...]
Brendon Craigie Tyto PR
Opinion: Why “PR” is having a renaissance
Brendon Craigie, co-founder and managing partner at Tyto PR, examines why PR professionals are once again adopting the PR moniker. The public relations industry is in the [...]