Archive for March 2014

Update on Mozambique Opportunity and Withdrawal of Cautionary Announcement

Shareholders are referred to the cautionary announcement published on 24 February 2014 and are advised that SacOil and The Public Investment Corporation (SOC) Limited (“PIC”) have now entered into a Memorandum of Understanding (“MoU”) dated 31 March 2014 with The Instituto De Gestão Das Participações Do Estado (“IGEPE”). IGEPE is an entity that manages investment portfolios and shares on behalf of the Government of the Republic of Mozambique in commercial ventures. SacOil is a South African based independent African oil and gas company listed on the JSE and AIM (JSE: SCL / AIM: SAC).

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SacOil, PIC sign energy MoU with Mozambique

Independent oil and gas group SacOil and the Public Investment Corporationhave entered into a memorandum of understanding (MoU) with the Instituto De Gestão Das Participações Do Estado (IGEPE) aimed at regulating a long-term partnership that will look to develop Mozambique’s natural gas industry through the development of several long-term projects.

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SacOil reports ‘satisfactory’ progress at African projects

South Africa-based independent African oil and gas company SacOil has reported “satisfactory” progress at its existing portfolio of exploration and appraisal assets in Nigeria and Malawi, further confirming that it continued to evaluate several opportunities to secure new value-accretive acreage in established and prolific African hydrocarbon jurisdictions and basins.

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Operations Update

SacOil, the South African based independent African oil and gas company listed on the JSE and AIM (JSE: SCL / AIM: SAC), is pleased to provide the following update on its on-going operational activities in Nigeria and Malawi.

Satisfactory progress has been made across the existing portfolio of exploration and appraisal assets. The Company also continues to evaluate a number of opportunities to secure new value accretive acreage in established and prolific African hydrocarbon jurisdictions and basins.

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