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SacOil receives exploration approval for Botswana licences

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09 May 2013

SacOil receives exploration approval for Botswana licences

JSE- and Aim-listed Africa-focused upstream oil and gas company SacOil has received approval for three onshore petroleum prospecting licences in Botswana.

The exploration licences were received through the company’s Botswana subsidiary, Transfer Holdings, and were approved by the Botswana Minerals, Energy and Water Resources Minister Onkokame Kitso Mokaila.

Mining Weekly Online reported in December that SacOil had been awarded a 100% equity interest and operator status in the second-largest petroleum exploration licence demarcated in Malawi, an area stretching 12 265 km2.

The oil company also announced last month that it had appointed former South African Reserve Bank governor Tito Mboweni as its independent nonexecutive chairperson from June 1.

Source: Engineering News Online