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Archive for December 2012

RenCap Loan Novation Board Change

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”) RenCap loan novation to Gairloch Limited;Amendment to SacOil loan agreement with Energy Equity Resources (“EER”);Board Change SacOil, the African independent upstream oil & gas company, announces it has entered into a series of…

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SacOil secures Malawi petroleum prospecting licence

THE Malawian government has awarded listed upstream oil and gas company SacOil a 100% equity interest and operator status in Block 1 in Malawi, the company said on Thursday.

Following due process and intensive negotiations between SacOil and the Malawian government, the prospecting licence was awarded to SacOil on Wednesday, SacOil said. Malawi Mining Minister John Bande signed the licence.

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SacOil awarded Malawi Petroleum Prospecting Licence

Shares in JSE-listed oil and gas company SacOil climbed 6.45% on Thursday as the firm announced that it had won an onshore petroleum-prospecting licence in Malawi.

SacOil was awarded 100% equity interest and operator status in Block 1, an area stretching 12 265 km2 and the second-largest petroleum exploration licence demarcated in Malawi. It is located in the north-western part of the country, bordering Tanzania to the north and Zambia to the west.

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