Menu

Investors

Home \ Investor Centre \ Financial Results \ SacOil Interim Results for the six months ended 31 August 2011

SacOil Interim Results for the six months ended 31 August 2011

During the period, SacOil, through Semliki Energy SPRL (“Semliki”), a company incorporated in the DRC and in which it holds a 50% interest, successfully concluded a farm-out and transfer of a 60% legal and benefi cial participating interest and operatorship of Block III to Total. DIG Oil Proprietary Limited (“DIG”) holds the other 50% in Semliki.

In return, SacOil gained:
• An immediate gross cash realisation of US$7.5m (£4.6m);
• Future contingent cash bonuses of, in aggregate, US$54.0m (£33.02m) and payable in two tranches;
• Full carry on exploration expenditure costs of at least US$35m (£21.4m) until final investment decision;
• Settlement of a US$1.4m (£0.9m) loan provided to DIG; and
• Knowledge and technical skills transfer via SacOil’s representation on the management committee of Block III.

REGISTER

for news updates

Headlines

IMPORTANT NOTICE TO SHAREHOLDERS REGARDING THEIR SHARES

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.