Solo Oil said an appraisal well is expected to be spudded later this month.
The company has a 25% interest in the well and initial results are expected early next year.
The firm is funded for its share of the drilling costs of NT-2 which are estimated to be $2.5million net to Solo’s interest.
The NT-2 appraisal well is expected to test the up=dip part of the same channel complex as the NT-1 discovery well in a thicker gross reservoir section.
Solo chairman Neil Ritson, said:”News from Aminex, the operator of both the Ruvuma PSA and KNDL, confirms that both operations remain on schedule. Solo is especially excited that the spud of the Ntorya appraisal well is now imminent since this well has significant upside potential for Solo’s asset holdings in Tanzania. The receipt of regular gas payments from TPDC is also encouraging and will support the investments being made in Tanzania.”