On 12 December 2018 Solo Oil announced that it has entered into a Sale and Purchase Agreement to sell 30% interest in PEDL 331 on the Isle of Wight to UK Oil and Gas Plc (UKOG) for a total consideration of GBP 350,000. The acreage contains one oil discovery known as Arreton 2. The field was discovered in 1974 and UKOG has been intending to drill the Arreton-3 well as a vertical pilot and horizontal appraisal to delineate the field and two further targets â Arreton North and South.  Following completion of the deal interest in the licence will be held by UK Oil and Gas Plc (95% + operator) and Doriemus Plc 5%.
United Kingdom (Portland-Wight Sub-basin (Wessex B.)) Arreton 2