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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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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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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  • Africa as a continent has experienced various episodes of rifting.
  • East African Rift system is the largest continental rift system on Earth.
  • These episodes gave rise to prolific oil discoveries in Sudan, Chad, Kenya and Uganda.
  • Potential that these rifts exist elsewhere on the African continent.
  • SacOil focussed on identifying and evaluating rift plays and basins on the African continent.
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SacOil’s objective remains to provide shareholders with maximum opportunity for capital growth but with commensurate and prudent management of the risks inherent in exploration.

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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” or “the Group”) Reviewed interim results for the six months ended 31 August 2012 SacOil, the African independent upstream oil and Gas Company, is pleased to announce its reviewed financial results for the…

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SacOil moves forward on oil and gas projects Highlights: Successful acquisition of an airborne gravity and magnetic survey on Block III in the Democratic Republic of Congo (“DRC”); OPL 233, Nigeria: Seismic acquisition on part of the block and successful posting of performance bond on OPL 233 in Nigeria; OPL 281, Nigeria: Restructuring of farm…

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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”) Receipt of cash and settlement of indebtedness to Yorkville Issue of shares for cashSacOil, the African independent upstream oil and Gas Company, is pleased to announce it has received US$3.0 million from its…

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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”) Disclosure of Disposal of Securities In accordance with the Johannesburg Stock Exchange (“JSE”) Limited Listings Requirements and Section 122(1) of the Companies Act, No 71 of 2008, shareholders are advised that Peregrine Equities…

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