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Archive for August 2011

SacOil Interim Results for the six months ended 31 August 2011

During the period, SacOil, through Semliki Energy SPRL (“Semliki”), a company incorporated in the DRC and in which it holds a 50% interest, successfully concluded a farm-out and transfer of a 60% legal and benefi cial participating interest and operatorship of Block III to Total. DIG Oil Proprietary Limited (“DIG”) holds the other 50% in Semliki.

In return, SacOil gained:
• An immediate gross cash realisation of US$7.5m (£4.6m);
• Future contingent cash bonuses of, in aggregate, US$54.0m (£33.02m) and payable in two tranches;
• Full carry on exploration expenditure costs of at least US$35m (£21.4m) until final investment decision;
• Settlement of a US$1.4m (£0.9m) loan provided to DIG; and
• Knowledge and technical skills transfer via SacOil’s representation on the management committee of Block III.

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No Change Statement and Notice of Annual General Meeting

SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE share code: SCL / AIM share code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) No Change Statement and Notice of Annual General Meeting 1. Posting of annual financial statement Shareholders are advised that the annual financial statements for the year ended…

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Dealings in Securities

SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE share code: SCL / AIM share code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) Dealings in Securities In compliance with rule 3.63 of the JSE Limited (“JSE”) Listings Requirements the following information relating to dealing by an associate of a director…

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SacOil’s potential in Nigeria and the DRC adds up to 28 pence a share, says Growth Equities

Growth Equities & Company Research today initiated coverage of Africa-focused SacOil (LON:SAC, JSE:SAC) with a buy recommendation and 28 pence a share price target.

The punchy valuation (the current price is 5.74 pence) reflects the production potential of the company’s assets in Nigeria and the blue-sky offered by its exploration target in the Democratic Republic of Congo.

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Operational Update – Block III, Albertine Graben, DRC

SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE share code: SCL / AIM share code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) Operational Update – Block III, Albertine Graben, DRC SacOil Holdings Limited (AIM/JSE), the independent African upstream oil and gas company is pleased to provide an operational update…

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GECR Research Report

Recommendation of Speculative Buy

AIM and JSE listed SacOil is an independent African upstream oil and gas business. The Board has already assembled some key interests to provide the company with early production and cash flow as well as the opportunity to add substantial value by moving opportunities up the value chain.

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Dealings in Securities

SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE share code: SCL / AIM share code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) Dealings in Securities In compliance with rule 3.63 of the JSE Limited (“JSE”) Listings Requirements and rule 17 and schedule 5 of the AIM Rules for Companies…

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Dealings in Securities

SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE share code: SCL / AIM share code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) Dealings in Securities In compliance with rule 3.63 of the JSE Limited (“JSE”) Listings Requirements and rule 17 and schedule 5 of the AIM Rules for Companies…

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Clarification of incorrect information published on Bloomberg

SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE share code: SCL / AIM share code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) Clarification of incorrect information published on Bloomberg SacOil would like to clarify incorrect information pertaining to the Company, released on Bloomberg on 27 July 2011. The release…

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