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Archive for March 2011

SacOil completes satisfaction of conditions precedent for transaction with Total E&P RDC and Results of General Meeting

SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) SacOil completes satisfaction of conditions precedent for transaction with Total E&P RDC (“Total”) and Results of General Meeting Further to previous announcements, the last of which was made on…

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Circular to Shareholders

Circular to SacOil Shareholders regarding:

  • the proposed transfer by Semliki, a 50 per cent subsidiary of SacOil, of the Block 3 Interest to Total;
  • the proposed specific issue of SacOil Ordinary Shares to the executive directors of SacOil in the event that the Bonuses are settled in whole or in part through the issue of SacOil Ordinary Shares;
  • the proposed specific issue of SacOil Ordinary Shares to Renaissance, in the event of Renaissance electing to convert any amount repaid by SacOil under the Facility into SacOil Ordinary Shares;
  • the proposed specific issue of 796 577 SacOil Ordinary Shares at an issue price of R2.16 per SacOil Ordinary Share to Renaissance in part settlement of the fee due to Renaissance for advisory services rendered in respect of the Transfer;
  • the proposed grant of Call Options to Renaissance in terms of the Call Option Confirmations, which grant shall constitute a specific issue of options for cash by SacOil; and
  • the approval of the Encha Memorandum of Agreement and a specific issue of SacOil Ordinary Shares to Encha, a related party, in the event of SacOil electing to settle any remuneration due to Encha in terms of the Encha Memorandum of Agreement through the issue of SacOil Ordinary Shares;
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Update on TOTAL Transaction

SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) Update on TOTAL Transaction SacOil shareholders are advised that the transaction with Total relating to Block 3, Albertine Graben, in the DRC (“Block 3) as announced on 4 March…

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Further Announcement in Relation to Proposed Admission

SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) Further Announcement in Relation to Proposed Admission Further announcement in relation to proposed admission to trading on the AIM Market of the London Stock Exchange (“AIM”) With reference to…

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Media Briefing

Africa will likely pass North America and become the 3rd largest oil producer, after the Middle East and Central/Eastern Europe. (PwC) Africa will account for 20% of world oil and gas production in 2020. Hence the recent scramble Background for Africa’s oil and gas real estate. Recent discoveries of oil and gas reserves in Uganda and Ghana, will likely lead to a flurry of exploration activity in Africa South Africa has declining gas resources and no proven hydro carbons.

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