17 Feb 2016 07:00
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")
Commencement of 2D SEISMIC Data ACQUISITION, block iii, Albertine Graben, Democratic republic of Congo
With the granting of a two-year extension to current exploration period of Block III by the Minister of Hydrocarbons of the Democratic Republic of Congo ("DRC"), Total E&P RDC ("Total") as operator of Block III, has commenced with the acquisition of a 2D seismic survey.
As reported previously, the current survey design envisages the acquisition of 300 km of 2D seismic data over the northern part of the Block III area. The survey will not encroach on the Virunga National Park.
This seismic acquisition program is in fulfilment of the work program obligations.
SacOil holds a 12.5% effective interest in Block III.
Johannesburg
17 February 2016
JSE Sponsor
PSG Capital Proprietary Limited
For further information please contact:
SacOil Holdings Limited +27 (0) 10 591 2260
Bradley Cerff
finnCap Limited (Nominated Adviser and +44 (0) 20 72200 500
broker)
Christopher Raggett and James Thompson
FirstEnergy Capital (Financial Adviser +44 (0) 20 74480 200
and Joint Broker UK)
Hugh Sanderson / David van Erp
Buchanan Communications Limited +44 (0) 20 7466 5000
Ben Romney