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Archive for November 2011

finnCap Initiation of Coverage

Initiation of coverage: A new African E&P on AIM

A portfolio of lower risk appraisal opportunities in Nigeria, and high impact exploration acreage in the Democratic Republic of the Congo (DRC) on trend with discoveries surrounding Lake Albert, provide an exciting platform for a new Africa-focused upstream company. An aggressive acquisition-led growth strategy should see the portfolio continue to grow rapidly as the company seeks to exploit its African identity and key relationships. Trading at 0.35x total NAV, this upside potential appears overlooked by the market despite its early track record in securing highly prospective acreage.

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SacOil to add value through exploration and appraisal, says Shore Capital

SacOil (LON:SAC) is expected to start moving its projects up the value chain with exploration and appraisal work in the Congo and Nigeria, according to Shore Capital analyst Craig Howie.

In a note to clients today the analyst points out thatSacOil has assembled a portfolio of assets in Nigeria and the Democratic Republic of Congo (DRC). He says a farm-out deal with Total is expected to kick-start activity on the high-impact Block III in the DRC.

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SacOil shares have potential for re-rating

Edison Investment Research sees potential for SacOil Holdings’ (LON: SAC, JSE: SCL) stock to re-rate upon further announcements on operating success in Nigeria or the democratic Republic of Congo.

The research house said in a note that the shares trade at a substantial discount to its core net asst value of 19 pence for SacOil. The stock currently stands at 4 pence.

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Further Cautionary Announcement

SACOIL HOLDINGS LIMITED(Incorporated in the Republic of South Africa)(Registration number 1993/000460/06)JSE share code: SCL AIM share code: SACISIN: ZAE000127460(“SacOil” or “the Group”) FURTHER CAUTIONARY ANNOUNCEMENT In compliance with JSE Limited (“JSE”) Listings Requirement 3.9 and with reference to the further cautionary announcement published on Thursday, 13 October 2011 on the Stock Exchange News Service of…

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Results of General Meeting and Results of AGM

SACOIL HOLDINGS LIMITED(Incorporated in the Republic of South Africa)(Registration number 1993/000460/06)JSE share code: SCL AIM share code: SACISIN: ZAE000127460(“SacOil” or the “Company”) RESULTS OF GENERAL MEETINGANDRESULTS OF ANNUAL GENERAL MEETING 1. Results of General Meeting Shareholders of SacOil (“Shareholders”) are referred to the circular to shareholders dated 24 October 2011 relating to the following: A…

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GECR Research Report

African oil play with a promise of early production

Dual-listed SacOil is an independent African upstream oil and gas business. The company offers investors the promise of early production and cash flow as well as the chance to add substantial value by moving opportunities up the value chain. The recently announced interim results served to remind the market of the African oil play’s impressive portfolio. The focus of attention over the past six months has been on the blue sky opportunity in Block III in the highly prospective Albertine Basin the Democratic Republic of Congo (DRC) which has been neatly de-risked following a farm-in by Total.

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Half Yearly 2011 Financial Results

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”) Half Yearly 2011 Financial Results AIM and JSE listed – SacOil Holdings Limited, the African independent upstream oil and Gas Company is pleased to announce its half…

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Trading Statement Update

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”) Trading Statement Update Further to the trading statement released on the Securities Exchange News Service (“SENS”) of the JSE Limited (“JSE”) and on the Regulatory News Service…

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