Sacoil Share Discussion Threads

[bronislav] 25/7/2013 18:21

roger reece the new finance director was appointed to the same position last December resigning 3 weeks later ,the reason given was lack of time to do the job owing to other commitments .I,m guessing he found out that all was not as it seemed and didn't want to have his name on it.Interesting he has had a change of heart.

[bam bam rubble] 25/7/2013 17:48

The Chairman certainly has a way with words

SacOil announces the appointment of Mrs T Mudzimuirema as its interim finance director.
Mrs Mudzimuirema (35) is an accountant who worked for Pricewaterhouse in assurance for construction & manufacturing companies until June 2010 and more recently in compliance at Indyebo Consulting and as a freelance consultant. She holds no other directorships.

SacOil Chairman Tito Mboweni commented;
"I am delighted this lady agreed to join SacOil's board for an interim period and look forward to working with her to grow this business into a giant pan-African enterprise"

[bronislav] 25/7/2013 11:58

Raj.The new board are well connected to lines of finance ,its the type of financing that is key and whatever they achieve it has to be a whole lot better than robbing vela,s deal with Gairloch.

[bronislav] 25/7/2013 11:55

Well only goes to prove that they aren't all locked up.

[rajaster] 25/7/2013 11:20

agree bronislav, just frustrating waiting around though. financing risk is still an issue though as who knows whether they raise more quity via placings or not.

[bronislav] 25/7/2013 09:31

Raj...lots to be positive about ,the new board are high profile individuals and will see the value here .Once funding issues are resolved we could see good medium term value.

[rajaster] 25/7/2013 09:12

thumbing yourself are you?. multi accounts, spouting rubbish all the time.

[r g fletcher] 24/7/2013 19:33

Are you having your period ?

[rajaster] 24/7/2013 11:19

taken from lse poster "I spoke to the organisation answering questions on behalf of SACOIL, they confirmed three new members have been recruited to the board ( very high profile apparently) also a new CEO, which will allow them to be re instated to AIM ( see news up date 12/0-7/2013 for latest information) they confirmed, without giving anything away as usual, this should all happen soon Hope this helps"

I spoke to the PR org few weeks back and they revealed nothing that wasnt out there so not sure how this guys managed to get information which is not available to the market yet?

[bronislav] 22/7/2013 18:49

ray.EER owe sacoil to the tune of I believe20+ million .gairloch are into EER. Maybe the new board have the clout to force gairlochs hand .EER,s 20% of OPL233 will be a tidy sum,if they renage on the deal I am guessing it becomes SACOILS. As you allude to ray it will take time to sort out the mess vela managed to create hence delays in relist .We have some new seismic that chevron did a while ago on one of our Nigerian assets,it will be interesting to see what that throws up.

[bronislav] 22/7/2013 15:19

The sentiment towards vela is that he is a stranger to the truth and perhaps his agenda didnt sail alongside the shareholders,it all rests on the agenda of the new board ,seems most on here are already writing the new board off and that is understandable but sometimes bulletin boards get it wrong .The new board are high profile and would not be wasting their time getting on board if the company had no assets and value ,I take that as a positive and a vote of confidence in favour of those assets and the potential for growth .The million dollar question is do the board have the shareholders interests at heart as well as their own.

[swinging_dick] 17/7/2013 10:30

Nail on head Fletch

If they do come back, the old punters will hold and pray and the new punters with buy and hope.
Add in a consolidation to make the price look a bit more respectable (with no benefit to investors) and we're off again on the director pump and pay bandwagon as the shareprice once again, sinks into the mire.
All they need is a new band of fools with money (not me this time).

Put my money in lloyds now, think it's a multibag potential, but a little bit safer, and a divi to come.

[bronislav] 15/7/2013 19:52

From small acorns ....lol.

[rayteuptetash] 15/7/2013 19:15

"into a giant pan African enterprise"......

When they start talking like this it's really time to worry

We are still in suspension and they talk about it being "GIANT" lol

[bronislav] 14/7/2013 21:38

PIC or public investment corporation wholly owned by the South African government is one of the largest investment managers in Africa.One of our new boys is on the board of directors at PIC.Its likely that the funding issues will all be sorted by the time we are ready to relist and hopefully some positive newsflow is forthcoming ie analysis of chevron seismic and maybe clarity on when the appraisal drill is likely.

[bronislav] 12/7/2013 18:12

"I look forward to working with them in growing sacoil into a giant pan African enterprise"......Wowser .can talk the talk and will be great if they can walk the walk . .looking better all the time.