Shares of Solo Oil PLC (LON:SOLO) reached a new 52-week low during mid-day trading on Monday . The company traded as low as GBX 1.76 ($0.02) and last traded at GBX 1.83 ($0.02), with a volume of 1676266 shares changing hands. The stock had previously closed at GBX 1.85 ($0.02).
Separately, Shore Capital restated a “house stock” rating on shares of Solo Oil in a report on Tuesday, August 21st.
In related news, insider Alastair Ferguson purchased 4,444,444 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were acquired at an average cost of GBX 2 ($0.03) per share, with a total value of £88,888.88 ($116,149.07).
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Solo Oil Plc, an oil and gas investment company, acquires a portfolio of direct and indirect interests in exploration, development, and production oil and gas assets in the Americas, Europe, or Africa. It holds a 7.55% interest in the Kiliwani North Development License; a 25% interest in the Ruvuma Petroleum Sharing Agreement covering an area of approximately 3,447 square kilometers; and a 10% interest in Helium One license located in Tanzania.
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