Member Info for Rigger

Big orders being filled now. Watch this space.

http://www.4-traders.com/SACOIL-HOLDINGS-LIMITED-6582795/forum_share/SACOIL-HOLDINGS-LIMITED-These-guys-are-racking-up-the-acreage-Botswana-Malawi-Nigeria-DRC-192944/action=showtopic

http://www.iol.co.za/business/companies/sacoil-to-look-for-oil-in-botswana-1.1513257#.UYuqCqPTXFo

http://m.miningweekly.com/article/sacoil-receives-exploration-approval-for-botswana-licences-2013-05-09

http://www.proactiveinvestors.co.uk/companies/news/55657/sacoil-wipes-out-debt-and-welcomes-strategic-investor-55657.html

Still just 21m. Its good to have the contacts, partners, assets and no debt that we now have. Not a lot of small aim oilers can say that while having a measily £21m mcap. Got a good feeling about our prospects now the new board members have joined. GL. Rigger.

Anyone know what is being targeted on the three new licences in botswana?

Time will tell. Lets take one step at a time.

I hate being right all the time, its a curse. Ask the wife. I believe this approval may have a lot to do with our new influencial NEDs. GL. Rigger.

I dont see that happening. I see us bringing Nigeria into production and using the revenue for expansion. Obviously tge bigger SP driver could be Total in the shorter term.

Start of news flow imo

Free carry by Total on one project. New influential management. No debt. Isa able.

15% up on no volume

http://www.sacoilholdings.com/investors-and-media/research-notes/firstenergy-research-note/?id=16&entryId=127 To keep bongo happy. I will stop now and we can go back to having a dead board. Gives bongo the chance to top up before news I suppose. GL. Grumpy old bongo ;)

I would prefer to make other pis aware of the opportunity here. That requires coverage.

Source: SacOil Holding & FirstEnergy Capital Newsflow - Work Programme Progress Across Multi Jurisdictions Newsflow will be primarily driven by progress primarily in Nigeria where the Company plans an Ocean Bottom Cable (OBC) 3D seismic survey on Block OPL233 commencing in 4Q12 that will be acquired over specific zones to better quantify resource sizes. In the DRC operator TOTAL has completed an aero gravity survey undertaken over the entire block that will be followed up with additional 2D seismic in the coming months. We consider that the most important catalyst in the near term will be ratification of both OPL233 and OPL281 in the coming months and certainly before 2012 year-end. We also note that with an impending timeline to FID for TOTAL in DRC, this could lead to an accelerated exploration timeline that would include possible exploration well catalysts. We expect a 2D seismic programme to commence at the start of the next weather window anticipated for the start of December 2012 with results expected during 1Q13

Acquisition Metrics Underpin African Junior Credentials In a comparison of acquisition metrics for regional players we highlight SacOil’s ability to leverage off its African credentials to secure f irst mover entry to acreage. This is highlighted against a comparison with established regional players comparing favourably for SacOil, that on licence approval will have secured its Nigerian assets for the equivalent of US$1.15/bbl and US$1.05/bbl for onshore and near shore acreage respectively. Of note Heritage Oil secured its Nigerian OML30 interests for US$2.5 bbl on the basis of Heritage’s most recent CPR, while Eland Oil & Gas (ELA LN) secured their interests in OML40 for an equivalent US$ 2.2/bbl based on 2P reserves. Although we recognise the resource scale is a determinant factor that is likely to increase the competitiveness for such assets. With the corporate focus remaining on first oil from offshore OPL233 overall group working interest proOnshore/Offshore Acquisition Metrics0.001.002.003.004.005.006.007.008.00Onshore 2P US$/bblRegional Onshore Acquisition MetricsSac Oil Acq offshore Costs $/bblSac Oil Acq onshore Costs $/bblSource : FirstEnergy CapitalSource : FirstEnergy C Source: FirstEnergy Capital, Oando Energy duction is expected to commence in the first year at slightly less than 2,000 bbl/d before OPL281 comes on line bringing total production to short of 8,000 bbl/d in 2014. Production on OPL281 is likely to be supported by water drive. These production output estimates are subject to a timely licence ratification

the survey will yield better guidance on prospective resources. Onshore Licence OPL281 - Existing Onshore Monetization Route In March 2011 SacOil secured a 20% working interest position in OPL281 from indigenous player Transcorp. The licence covering an area of 138 km2 is situated in the Niger Delta and in close proximity to the Forcados terminal (c. 25 km). Historically two vertical wells Ekoro and Obote have been drilled in 1967 and 1970 respectively and a TRACS independent CPR assigns gross unrisked contingent resources of 99.2 mmbbl with best case estimate of 14.5 mmbbl net to SacOil under the terms of the PSC. Under the farm-in terms all JV partners pay their respective capex share to first oil. The CPR did highlight some degree of uncertainty exists on the nature of the fluids encountered. However, the report distinguishes the propensity for the fluid to be oil rather than gas. Development scheme will resemble an oil facility barge mounted and two well head platforms and five producers across two phases drilling to 3,000 m to 3,200 m. A gross signature bonus of US$24.5 mm is levied on the block and SacOil will pay EER’s share which will be reimbursed from first production with a 25% uplift. To date US$12.5 mm has been paid with US$12 mm remaining subject to licence terms. A further US$3.75 mm (net to SacOil) will be paid to indigenous partner Transcorp on conversion to an OML together with a gross payment of US$5 mm on first production. Transcorp is the designated operator of the block and is expected to pay 60% of its share of the capex. The minimum work programme for phase 1 is likely to comprise of US$15 mm programme of 3D seismic reprocessing and one appraisal well commitment in addition to an extended well test that will generate early cash flow. However, this is likely to be clarified on licence ratification

HOIL LN/HOC CN) on OML30 and the recent listing of Eland Oil and Gas (ELA LN) on the AIM market that recently acquired OML40, another of Shell’s divested assets. Offshore Licence OPL233 - Material Resource Potential SacOil holds a 20% working interest in Block OPL233 covering an area of 126 km2 in the Niger Delta and in water depth of less than 30 ft. The block is immediately north of the 600 mmbbl Apoi f ield operated by Chevron. Formal award of the block is pending on the approval of the Nigerian government and is expected over the next six months. According to the independent TRACS report undertaken in 1Q11, the block currently holds 19 mmboe gross contingent resources with an equivalent 3.8 mmbbl net to SacOil. The Company will pay a gross US$8 mm signature bonus on the licence with EER repaying its 50% contribution across three tranches with a 25% uplift. A US$25 mm performance bond on behalf of partner Nigdel payable to NNPC, that carries EER through their respective share of the performance bond. This now permits the licence partners to proceed with the expected Ocean Bottom Cable (OBC) 3D survey on licence ratification and it is anticipated that results from

Nigeria - Monetizing Contingent Resources SacOil has maintained a presence in Nigeria since late 2010 when it successfully executed the first of two farm-in agreements in offshore licence OPL233 later added to by an interest in onshore asset OPL281. In both of these farm-in agreements the Company formed a JV with private entity Energy Equity Resources (EER). The Company’s intent is to focus on appraisal and development activities on onshore Block OPL281. SacOil operates in the country along with indigenous partners Nigdel (OPL233) and Transcorp (OPL 281). The Company’s interest in seeking developed and undeveloped assets in Nigeria is underscored by Nigeria’s relatively low development costs, access to existing infrastructure, presenting a fast time to monetization and at realized prices trading close to Brent, if not commanding a premium. Interest levels in the region have been bolstered by the recent entry of Heritage Oil