Sacoil Share Discussion Threads

[thomasthetank1] 22/4/2016 13:12

Read FirstEnergy Capital's note on SACOIL HLDGS, out this morning, by visiting hxxps://www.research-tree.com/company/ZAE000127460
"Market Reaction: Neutral. We understand from management that the Company expect margins of around US$0.25-0.50/bbl with very little upfront cost required to form the agreement. At this stage there is little visibility on the precise volumes involved as this will be dependent on Crude Allocation which in turn will depend on Nigeria's overall production levels...."

[flyingbull] 02/2/2016 08:50

The February oil stock challenge is still on....deadline for entries is midnight on Tuesday, i.e. tonight.

[flyingbull] 02/1/2016 19:43

The monthly oil stock competition for January 2016 as well as the 2016 annual oil competition are still open for entries. Deadline for entries for both competitions is midnight this Sunday, 3 January 2016.


Happy and Prosperous New Year to All!!!

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[jane downs] 18/12/2015 10:25

9 minutes ago | By Zak Mir
Zak Mir's Bulletin Board Heroes: Independent Oil & Gas, InternetQ, Iofina, Independent Resources, Proxama, Sacoil

Featuring shares in Independent Oil & Gas (IOG), InternetQ (INTQ), Iofina (IOF), Independent Resources (IRG), Proxama (PROX) and Sacoil (SAC) with share oprice targets set for all six stocks.

[liquid millionaire] 17/12/2015 09:26

Post that oil find SAC are moving nicely forwards!

[liquid millionaire] 15/12/2015 15:45

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")

RESULTS OF DRILLING PROGRAMME - LAGIA OIL FIELD

SacOil Holdings Limited, on behalf of its subsidiary, Mena International Petroleum Company Limited ("Mena"), is pleased to announce an update on the drilling of the Lagia 11, Lagia 15 and Lagia 16 wells, which forms part of the Phase 2 field development operations at its 100% owned Lagia oil field in Sinai, onshore Egypt.

As reported previously, the Lagia 11, Lagia 15 and Lagia 16 wells are part of a five well drilling campaign aimed at increasing and optimising production. The remaining wells to be drilled are Lagia 12 and 13, which will target the Nukhul formation.

SacOil is pleased to announce that Lagia 11 was drilled to a depth of 1,434 ft below drill floor and encountered approximately 213 ft of gross oil bearing Nukhul formation. The well was placed in production and is producing oil with a gravity of 13 degrees API.

Lagia 15, the second well in the programme, was drilled to a depth of 1,820 ft below drill floor. The well intersected the Nukhul formation as well the Thebes formation and discovered producible oil in both formations. Preliminary results indicate that the discovery in the Thebes formation is of a higher API gravity as compared to the oil produced from the Nukhul formation in this field. Preliminary results also indicate that the API gravity of the Thebes is above 24 API gravity. Further analysis of the Thebes discovery will be concluded before Lagia 15 is placed in production.

Lagia 16, the third well in the programme was drilled to a depth of 1,430 ft below drill floor and encountered 213 ft of gross oil bearing and potentially productive Nukhul formation and the well will be placed in production. The oil intersected in Lagia 16 is expected to have similar API gravity to the main producing Nukhul formation.

SacOil is now monitoring each of these wells and evaluating the potential of applying stimulation techniques with a view to optimising flow rates and achieving stabilised flow rates and production profile for the Lagia Block. Further announcements will be made in this regard in due course.

Dr Thabo Kgogo, Chief Executive Officer of SacOil, commented,
"The discovery of a light oil in the Thebes formation is very significant for the Lagia assets and for SacOil as a company. This discovery should add to the field reserves and may add to production from the Lagia field in the future.

The focus for our technical team now is to further evaluate these well results to establish a better understanding of the potential stabilised production rates from each well and the field as a whole. We are certainly pleased with these initial results and look forward to the commencement of our Lagia 12 and 13 wells. We remain on track to deliver on our previously stated production milestone of 1,000 bopd by our financial year end"

More details on the results of the drilling, as well as progress on the current operations, will be announced in due course, as operations progress.

[bronislav] 16/10/2015 20:59

Gairloch now gone is a good development ...the equivalent price in South Africa is 2.47p.

[palwing13] 16/10/2015 19:49

Anyone watching the recent share price movement?

[nick rubens] 16/3/2015 09:20

Anyone remember the 'cautionary announcement' from JLP back in 2011?

lol

[kayfash] 27/1/2015 12:46

Sac the next Afren?Looks at Afren's current share price.... Ermmmm

[jonno1] 10/9/2014 10:50

not really sure why they want to enter Egypt, would have thought they have more than enough headaches on their plate?

[flyingbull] 29/8/2014 14:41

The September challenge is on!!! ;-)
Entries for the September oil stock competitions are accepted until midnight this Sunday.
Good luck!!!

[bronislav] 29/8/2014 14:25

Someone keen ,paying 3.7 for 500k.

[bronislav] 26/8/2014 19:22

Nice volume in s Africa and equivalent 3.5p.

[letmepass] 19/8/2014 18:01

Wow 5% must be fantastic news. Placing imminent

[jonno1] 19/8/2014 13:58

News out looks good up 5% in Joburg

[bronislav] 11/8/2014 13:48

It's probably related to mozambique ,we have other assets so it could also be a farm in on one of those assets but apparently its not the aquisition of a producer ...They kind of stressed it was a producing asset that was top of the list so maybe we have cash coming from somewhere else.

[bronislav] 05/8/2014 16:40

Very tight spread on here today ....Two possible news sources .producing asset and mozambique update.

[bronislav] 31/7/2014 13:08

Producing asset of 5kbopd.....nice revenues....

[bronislav] 31/7/2014 10:36

3.21 p in saaf Africa.....fill your bootys boys and girls....