Posts by editor
SacOil Unveils Plans to Become an Oil Producer
SacOil Unveils Plans to Become an Oil Producer South African oil and gas company Sacoil has taken the first step in transforming from an exploration entity to an oilproducer by inking in a joint-venture (JV) agreement with Nigerian oil firm Energy Equity Resources. Sacoil CEO Robin Vela made it clear at a media briefing in…
Read MoreEntry into unincorporated JV with EER and update in Farmout agreement in respect of the Chaal Gas Permit
SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) Entry into unincorporated JV with EER and update in Farmout agreement in respect of the Chaal Gas Permit Highlights Strategic focus on production and near production oil and gas…
Read MoreCommencement of exploration work programme on Block 3 of the Albertine Basin, Lake Albertine in the DRC
SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) Commencement of exploration work programme on Block 3 of the Albertine Basin, Lake Albertine in the DRC SacOil, the Pan African independent upstream oil and Gas Company, is pleased…
Read MoreLegal action taken against SacOil
SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) Legal action taken against SacOil SacOil shareholders (“Shareholders”) are referred to the previous announcement published on SENS on 15 September 2010 (“the Announcement”) in which Shareholders were advised that…
Read MoreResults of general meeting and general issues of shares for cash
Results of general meeting and general issues of shares for cash SacOil shareholders (“Shareholders”) are advised that a general meeting was held on Monday, 20 September 2010 to consider the ordinary resolutions relating to: the restructuring of SacOil`s investment in oil concession rights pertaining to Block 3 and Block 1, Albertine Graben, Democratic Republic of…
Read MoreVexatious action taken against SacOil
SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) Vexatious action taken against SacOil Vexatious actions taken against SacOil Shareholders are advised that the company has been cited as defendant in an action instituted by one Joseph Gadifele…
Read MoreCircular to Shareholders
Circular to Shareholders regarding:
- the restructuring of SacOil’s proposed investment in the Block 3 Rights and the Block 1 Rights including the proposed acquisition by SacOil of 50 per cent of the entire issued share capital of, and all claims of the SacOil (Proprietary) Limited Vendors against, SacOil (Proprietary) Limited which is a related party transaction;
- the proposed acquisition by SacOil of a 55 per cent Participating Interest in the Chaal Gas Exploration Permit Area in Tunisia;
- the proposed Specific Issue to Metropolitan Asset Managers, a related party, of 46 000 000 Ordinary Shares for cash at 50 cents per Ordinary Share ;
- the ratification of the Specific Issue to GVM, a related party, of 8 343 216 Ordinary Shares for cash at 30 cents per Ordinary Share;
- approval of the Lonsa Corporate Finance Advisory Mandates which are related party transactions; and
- amendments to the current Share Option Scheme.
Corporate Presentation: Capital Raising
SacOil Holdings Limited (“SacOil”) is a Pan African BEE oil and gas focused independent company with world class exploration assets across Africa. Access to significant African assets:
- African continent – geopolitical reasons/DOE energy security drive/ indigenization drives
- PetroSA relationship – deficiencies of their structure enable a mutually beneficial relationship
- Majors exiting downstream market.
Objective:
- African assets, African controlled, African managed Oil and Gas independent integrated entity.
- Upholding of the highest standards of corporate integrity and ethics.
- Seasoned entrepreneurial Oil & Gas management team/ Global search for CEO ongoing.
- Replication of Tullow Oil plc which began as Energy Africa on the JSE (now a FTSE 100 company with a market capitalisation in excess of £11bn with 85 licences in 22 countries).
SacOil Interim Report for the six months ended 31 August 2010
The interim financial statements of the Group for the six months ended 31 August 2010 have been prepared in accordance with the Group’s accounting policies, which comply with International Financial Reporting Standards as well as the AC 500 standards as issued by the Accounting Practices Board or its successor and are consistent with those of the previous year. This interim report has been prepared in accordance with and containing the information required by International Accounting Standard 34 – Interim Financial Reporting. The interim report has been prepared on a going concern basis.
Read MoreNo change statement, Notice of Annual General Meeting to Board of Directors
SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) No change statement, Notice of Annual General Meeting to Board of Directors No change statement SacOil shareholders (“Shareholders”) are advised that the annual financial statements will be distributed to…
Read More