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Archive for June 2012

SacOil ready and funded for a transformational year

This year is shaping up to be a significant one forSacOil (LON:SAC). In Nigeria, in particular, the news flow should ramp up now that the finances are in place that will allow the exploration and appraisal of one of two highly prospective oil licences there.

In April the group announced it had posted a US$25 million performance bond, which allows it to start preliminary work on the OPL233 concession in the Niger Delta.

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Court rules for SacOil in $2m claim

The Supreme Court of Appeal’s decision to dismiss Identiguard’s claim of $2m against a SacOil subsidiary should bring the dispute between the two companies to an end, SacOil CEO Robin Vela said yesterday.

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SacOil’s Appeal against US$2m Identiguard Claim Upheld

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” ot “the Group”) SacOil’s Appeal against US$2m Identiguard Claim Upheld Summary South Africa’s Supreme Court of Appeal dismisses Identiguard’s claim to US$2m from SacOil’s subsidiary and awards SacOil costs Background SacOil previously reported…

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