Sacoil - SAC Stream Log

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.

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

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.

SacOil Holdings Limited, through its subsidiary Mena International Petroleum Company Limited ("Mena"), is pleased to announce the commencement of field development operations at its 100% owned Lagia oil field in Sinai, onshore Egypt. Mena has contracted Schlumberger Egypt to conduct an initial phase of development, which includes the hydraulic stimulation of the Lagia 6,7,8,9 and 10 wells, specifically targeting the intersected productive Nukhul geological formation. Schlumberger is one of the leading international oil field services companies, with a proven track record of success in Egypt. Operations commenced on the 4th January 2015 and well results are expected by the end of January 2015. The Company anticipates total daily production of approximately 350 barrels of oil per day, provided the completion of operations at each of these wells is successful. In addition to these hydraulic stimulation operations, a thermal recovery process is being planned for the first half of 2015, which should further enhance oil production and recovery of the reserves from the Lagia oil field. SacOil is preparing and planning a second phase of development operations to start by June 2015, which includes the drilling of up to five additional wells in the Lagia oil field. More details of this phased development, as well as progress on the current operations, will be announced in due course.

Sacoil share price has been under pressure with the falling of the oil price unfortunately. Something interesting. Hamra Oil first phase of analysis shows there are oil tracks in Lake Malawi. [link] I just want to highlight in the article this paragraph: Then Hamra Oil joined with other three other companies, Rakgas of the united Arab Emirates, Pacific Oil and Gas of Singapore and the South African Company Sacoil have also been granted licences for prospecting. And this sentence: “What we have managed to get is giving us confidence that there are oil tracks in Lake Malawi.” Chiza-Mkandawire said Kind regards Gerald.

George Mpofu wrote about the Multi-Billion-Dollar Gas Pipeline In Development To Link South Africa With Mozambique on Ventures Africa website [link]