Sacoil - SAC Stream Log

Stock Exchange News Service Dealing in securities by a director SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE Share Code: SCL AIM Share Code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) DEALING IN SECURITIES BY A DIRECTOR In terms of paragraph 3.63 - 3.65 of the JSE Limited Listings Requirements, the following information, relating to the dealings in the securities by a director, is disclosed: Director: Dr Thabo Kgogo Status: Executive Director - SacOil Transaction date: 20 June 2017 Number of share: (1) 200 (2) 130 800 Price per share: (1) 19 cents (2) 20 cents Transaction value: (1) R38.00 (2)R26 160.00 Type of securities: Ordinary shares Nature of transaction: Purchase of shares on the open market Extent of interest: Direct beneficial Written clearance Yes obtained: JSE Sponsor PSG Capital Proprietary Limited 21 June 2017 For further information please contact: SacOil Holdings Limited Damain Matroos +27 (0)10 591 2260 Buchanan (Financial PR adviser) - UK Ben Romney / Chris Judd / Madeleine Seacombe +44 (0)20 7466 5000 Date: 21/06/2017 12:590 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

sacoil

This is from an e-mail reply I received from them when I enquired re. delisting: "The proposed de-listing is still subject to a shareholders vote, after which your shares may be transferred to the Johannesburg Stock Exchange (JSE). The relevant information will be set out in a circular to shareholders in due course. This will include detailed steps of the processes involved and the options at your disposal."

[link] What does this mean for us? How long before trading can commence again

I am wondering if Sacoil will start moving up from the current Share Price from this point? (JSE Share price is very low)

[link]

South African oil and gas junior SacOil is optimistic that energy major Total could initiate a drilling campaign in 2017 on a resource in the Democratic Republic of Congo (DRC), following positive geophysical exploration results. The French group is the operating partner over the 3 177-km2-licence area, known as Block III, and recently completed the acquisition of 244 km of 2D seismic data over the northern part of the block. The onshore acreage, which lies to south of Lake Albert, in DRC, also forms part of a larger basin, which has been the subject of extensive exploration on the to Uganda side of the border. In fact, Total and others have made significant discoveries in Uganda and the group has signalled its intention to develop multiple oil finds, which could be evacuated through a planned $3.5-billion Uganda-Tanzania export pipeline. SacOil group executive operations, Bradley Cerff, tells Engineering News Online that the JSE-listed company is also heartened by the initial exploration results in Block III and that it is looking forward to the initiation of the future drilling campaign. The licence conditions associated with Block III stipulate that drilling should occur by mid-2018, but Cerff is hopeful that Total could well move ahead during the course of 2017. “We are moving into the nuts-and-bolts phase,” he explains, noting that, over the past six years, the partners have come to grips with the regional geology. “What we need to do now is test the geological model through drilling the first well on the DRC side of the border.” The focus currently is on selecting the best possible geological location for the first well so as to “prove that there is a working petroleum system in that area”. For SacOil, which acquired the block in 2010 and currently holds a 12.5% interest, proving the asset would also be a significant development, particularly following a recent reorganisation of ownership structure, enabling it to directly represent its interest in Block III. Cerff says that, besides the producing Lagia oilfield, in Egypt, the DRC asset is the most advanced in the JSE- and Aim-listed company’s upstream portfolio and central to its ambitions of becoming a pan-African oil and gas company.

[link]

SAC CEO, dr Kgogo interview with Proactive Investors [link]

On sac website: investor roadshow pres. [link]