Home \ Investor Centre \ Company Announcements \ Clarification of Change Statement

Clarification of Change Statement

(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL
ISIN: ZAE000248258
(“Efora” or “the Company”)


Shareholders of the Company (“Shareholders”) are referred to the Change Statement announcement issued on 1 July 2021 (“Change Statement”) wherein the Company provided details pertaining to the modification to the reviewed results for the year ended 29 February 2020, previously issued on 31 August 2020 (“Reviewed Results”), following the publication of the audited results for the year then ended (“Audited Results”) on 1 July 2021.

This announcement serves to clarify that in addition to the change highlighted in the Change Statement, the Audited Results also include an adverse opinion issued by the auditors of the Group, SizweNtsalubaGobodo Grant Thornton Inc. (“Auditors”) on the consolidated Audited Results of the Company, which is a change from the unmodified review conclusion which highlighted material uncertainties relating to going concern issued in the Reviewed Results.  The Auditors expressed an unmodified opinion, with a material uncertainty relating to going concern, on the results of the Company which also form part of the Audited Results. The basis for the adverse opinion is that the consolidated Audited Results are prepared on a going concern basis which in the Auditors’ judgement is inappropriate. This Auditors’ opinion is available, along with the full set of annual financial statements, on the Company’s website at


19 July 2021


PSG Capital

For further information please contact:

Efora Energy Limited

Darrin Arendse

+27 (0)10 591 2260

About Efora

Efora Energy Limited is a South African based independent African oil and gas company, listed on the JSE. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo; a midstream project relating to crude trading in Nigeria and material downstream distribution operations throughout Southern Africa. Our focus as a Group is on delivering energy for the African continent by using Africa’s own resources to meet the significant growth in demand expected over the next decade.


for news updates



If you are in any doubt as to what action you should take, consult your CSDP, Broker, Banker, Legal Adviser, Accountant or other professional advisers immediately.

Or visit our Shareholder Information page for more information regarding your shareholding and share certificate.