Investors

Share Price Information

JSE : EEL

Share Price Information

JSE : EEL

Home \ Investor Centre \ Company Announcements \ Detailed cautionary announcement in respect of Block III, Albertine Graben in the DRC

Detailed cautionary announcement in respect of Block III, Albertine Graben in the DRC

<< Back to

Feb 16, 2011

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”)

Detailed cautionary announcement in respect of Block III, DRC

The board of SacOil (the “Board”) wishes to announce that, further to previous announcements the last of which was made on 18 January 2011, it is in advanced negotiations with TOTAL E&P RDC (“Total”) pursuant to which Total will farm into an undivided interest in Block III. The Government of the Democratic Republic of the Congo, acting through the Minister of Hydrocarbons, has consented to Total farming into and being appointed Operator of Block III.

The Board is currently finalising negotiations and full details of the farm in agreement will be announced in due course.

SacOil shareholders are therefore required to continue to exercise caution when dealing in their SacOil securities, until a further announcement is made in this regard.

Midrand

Sponsor

BDO Corporate Finance

REGISTER

for news updates

Headlines

IMPORTANT NOTICE TO SHAREHOLDERS REGARDING THEIR SHARES

Shareholders are advised to contact their CSDP, broker or professional advisor if they are in doubt as to what action to take, and to visit our FAQ page 

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.