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Sacoils Partner Total takes in some cash money (undisclosed means large) and interesting they say they are investing in "QPI will buy into offshore oil-producing facilities as well as assets under development and exploration blocks", also means SAC's forth coming income from total shouldn't be a problem...they gots lots...they spent enough on man city..lol The foreign investment arm of Qatar Petroleum, the state-run energy company, will participate in a 15 percent capital increase for the Republic of Congo unit, Total and Qatar Petroleum International, or QPI, said in a joint e-mailed statement. QPI will contribute to Total’s investment in Congo, specifically the Moho North project, the companies said today. Qatar is acquiring oil and gas reserves abroad amid a halt to development of the country’s North Field, the world’s largest gas reservoir. The Congo agreement came one month after QPI and Centrica Plc (CNA) agreed to buy natural gas fields in Canada from Suncor Energy Inc. (SU) for C$1 billion ($965 million). QPI will buy into offshore oil-producing facilities as well as assets under development and exploration blocks, the company said in an e-mail. Total’s Congo operation produced 113,000 barrels of oil equivalent a day for the unit last year, QPI said
Not what you know!!, in this environment..seems out with old and in with the KNEW! i 'm sure the board has some friends in high places down there in Africa...lol http://www.timeslive.co.za/local/2013/04/22/mboweni-joins-sacoil-board he talks a good story... “Mboweni said he was delighted to join the SacOil board. "It has always been my wish to be part of efforts that harness Africa's resources," he said. "The oil and gas business is one avenue through which Africa's resources can be restored to her people." Mboweni said he looked forward to working with his new colleagues in building SacOil into a giant enterprise in the quest for Africa's development.”
http://www.reuters.com/article/2013/03/22/us-total-congo-approval-idUSBRE92L0VE20130322 obviously Total is confident in Congo!
SacOil Holdings posts a loss from continuing operations of R13.7m in the six months to mthe end of Augfust compared to R100.4m a year ago. The company says this principally reflected the recognition of profit on disposal of the 6.66% interest in Block III, increases in interest income and foreign exchange gains offset by debt facility/capital raising fees, corporate and general costs and an impairment provision on the Greenhills Plant
less than 500K trades, and the results are as quoted August Interims don't see that showing much we would know already August 2012 Interim estimated to be released on Wednesday, 14 November 2012
To Be Fair Good call but think these are a little to early 01/11/12 12:05pm Sell 10000001 2.25 225000.02 01/11/12 12:05pm Sell 3333334 2.25 75000.02
Receipt of cash and settlement of indebtedness to Yorkville Issue of shares for cash SacOil, the African independent upstream oil and gas company, is pleased to announce it has received US$3.0 million from its Nigerian partner, Energy Equity Resources (“EER”). This represents a part repayment of the cash collateral contribution owed to SacOil by EER and will assist SacOil in settling its outstanding balances to YA Global Masters SPV Limited (“YA”). SacOil had borrowed US$3.4 million from YA to enable it to part fund the cash collateral of US$10 million required as part of the posting of the US$25 million Performance Bond (the “Bond”) for OPL 233 announced on 17 April 2012. SacOil will now settle the remaining indebtedness to YA by making a cash payment of US$1.0m and issuing 35,072,412 new SacOil ordinary shares (“Shares”) to YA at a price of R0.32 per Share (the “Issue”), raising R11.2 million (approximately US$1.2 million). The Issue is in line with the terms of a Standby Equity Distribution Agreement between YA and SacOil which was approved by SacOil shareholders in a general meeting on 17 November 2011. YA has placed in excess of 50% of the Shares from this issue at R0.32 to off market investors and has agreed to holding restrictions relating to the remaining shares held. Application will be made to the JSE Limited (“JSE”) to grant a listing of the Shares and to the London Stock Exchange for the admission of the Shares to trade on the AIM Market (”AIM”). The listing of the Shares on the JSE and the admission of the Shares to trade on AIM are expected to take place on Tuesday, 13 November 2012. The Shares will rank pari passu in all respects with the Company's ordinary shares already in issue. SacOil’s total issued share capital after the Issue will be 953,340,791 ordinary shares.
future,,,, potential exactly the company strap line and and actually what they do but they already own 12.5% with no more cash in till oil, Total is paying for everything and it's Total who are saying 3 billion barrels what do you think it was 2.2 p it's only 3.3 now and they still wait for the 50 million total are to pay up front market cap of 24 million whats the problem INVESTOR?
% Move 40.63% Volume 32,616,600
of course there not drilling....whats athat about it's about 12.5% of a possible 3 billion barrels.....doh!
% Move 40.63% Volume 23,315,356
% Move 34.38% Volume 19,404,078
% Move 31.25% Volume 18,519,804
% Move 28.13% Volume 18,161,330
15/10/12 01:31pm Buy 499383 3.45 17228.71
up 18.75% Volume 10,288,522
"Total intends to drill an exploration well, in order to determine the presence of oil and/or gas and the potential commercial viability of Block III." not quite the same thing is it...... A senior spokesman from Total Exploration and Production has previously commented that the size of the discoveries indicates a large scale development may be possible. Plateau production could exceed 300,000 barrels per day, depending on the results of the future drilling programme. Independent SacOil holds a 12.5 per cent interest in Block III and a senior analyst has already commented that SacOil shares are completely undervalued. “At this point its share price has the potential of doubling many times as it moves up the value curve.” Confirmed reports have indicated that Block III could be considered as the largest oil discovery in the Albertine Graben area.
2.95 sells haahhaa
15/10/12 12:59pm Buy 32935 3.00 988.05