Sacoil Forum

Sacoil out of OPL 233 as well.

Oil price has risen the last two months. Sasol SP has slowly risen over 90 days. I think Sacoil will follow suit with their SP. I am watching closely. Gerald

I wonder if the company will "park" some of the cash in it's own shares?

There is still a big seller liquidating its position. Once he(they) are out the share price should re-value.

Two good things happened. 1. A needed cash injection which will be used towards other cash generating assets. 2. Future cash flow from OML133.

I see some positive activity on the JSE. Maybe the rationalization of the portfolio is drawing to an end. Hope we receive some good news soon. GLA

The price of Organisation of Petroleum Exporting Countries, OPEC basket of 12 crudes stood at $55.97 per barrel, compared with $52.86 over the weekend, according to OPEC Secretariat calculations

Adobong. No not at all. I am still here. I only decided to wait the cycle out. There will be demand for oil again.
We are experiencing an oil glut because Shale gas in the United States has added 9.2 million barrels of oil being produced.
OPEC is producing 24.2 million barrels per day
A quote form IEA
"As of early 2015, the IEA Oil Market Report forecast average demand for the year of more than 93 million barrels of oil and liquid fuels per day worldwide – that works out to more than 34 billion barrels a year – with January 2015 production totalling just over 94 million barrels per day."
Most articles I have read have said it is not cost productive for most US shale companies to produce oil at these low rates.
Plus fracked wells dry up quickly. US have to keep drilling new wells to maintain production.
The rig count is dropping.
Our company is greatly undervalued at the current share price.
I much rather have shares at this starting point.
What do you think the SP will be when the oil price starts recovering?
I just can’t tell you when it will recover.
Is this not what it is about to support them now and to grow with them?

Markus, seems you're spot on.... With reference to the cautionary announcement published on 18 December 2014 on the Stock Exchange News Service of the JSE and on the Regulatory News Service of the London Stock Exchange, SacOil shareholders (?Shareholders?) are advised that the Company is still in the process of considering its portfolio rationalisation, which, if successfully concluded, may have a material effect on the price of SacOil ordinary shares (?Shares?). In particular, SacOil is considering the cancellation of an agreement to participate in an appraisal asset in Nigeria. As yet, no transaction has been formalized and there can be no guarantee as to the terms or conditions attached to any cancellation of this asset. Further updates will be made in due course.

Still some way off the 1000 barrels per day but on the right path. Unfortunate about the oil price slump. This should at least put the company on the radar again.