SCL - SacOil Holdings Limited - Detailed cautionary announcement in respect of
SCL
SCL
SCL - SacOil Holdings Limited - Detailed cautionary announcement in respect of
Block III, Albertine Graben in the Democratic Republic of the Congo ("Block
III")
SacOil Holdings Limited
Incorporated in the Republic of South Africa (Registration number:
1993/000460/06)
Share code: SCL ISIN code: ZAE000127460
("SacOil" or "the Company")
Detailed cautionary announcement in respect of Block III, Albertine Graben in
the Democratic Republic of the Congo ("Block III")
The board of SacOil (the "Board") wishes to announce that, further to previous
announcements the last of which was made on 19 January 2011, it is in advanced
negotiations with TOTAL E&P RDC ("Total") pursuant to which Total will farm into
an undivided interest in Block III. The Government of the Democratic Republic of
the Congo, acting through the Minister of Hydrocarbons, has consented to Total
farming into and being appointed Operator of Block III.
The Board is currently finalising negotiations and full details of the farm in
agreement will be announced in due course.
SacOil shareholders are therefore required to continue to exercise caution when
dealing in their SacOil securities, until a further announcement is made in this
regard.
Bryanston
16 February 2011
Sponsor
BDO Corporate Finance
Contacts
SacOil
Robin Vela, Chief Executive Officer
Tel : +27 (0) 11 575 7232
Conduit PR (Public Relations)
Jonathan Charles / Jos Simson
Tel: +44 (0) 20 7429 6666
The Riverbed Agency
Raphala Mogase
Tel: +27 (0) 11 783 7903
Date: 16/02/2011 07:05:06 Produced by the JSE SENS Department.
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