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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sacoil | LSE:SAC | London | Ordinary Share | ZAE000127460 | ORD SHS NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.825 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
08/10/2013 16:18 | Yes a touch frustrating. It does seem to be taking an inordinate amount of time. Quiet on the other boards as well. | bushman1 | |
07/10/2013 21:35 | Cmon now ,let's have it!! | bronislav | |
03/10/2013 01:01 | Read as follows in regards to why Vela wasnt supported in regards to paying off Gairloch. It appears there wasnt any support for gairloch, whod be surprised considering the also own a share in EER. EER still havent paid their debts and nor have they explained how they will pay towards the seismics which they promised if payments are not made. We saw last year that block 233 was placed on sale, was that by EER?. still questions remain but the current board wanted no link to gairloch and instead have raised the cash via a RO and larger IIs. One of the current directors was short the company before suspension and joining Sac. once the suspension is lifted he can collect his prize money. | rajaster | |
02/10/2013 19:35 | With the new shares now issued hopefully we should start trading any day. Total 956,118,568 SacOil Shares in issue at least we are not into billons yet ! Any thoughts on price direction ? or is that a silly question. | onthebrightside | |
24/9/2013 09:31 | Well speculation about the share price about to come to an end. A week at the earliest and then lets see. Lets hope they have some good news up their sleeve. Good luck to all. It's been a long wait but we have come out of it ok really. It could have been much worse. Ray | rayteuptetash | |
20/9/2013 11:42 | I wont bother taking up shares. Most of the rights offers i've taken part in,in the past have resulted in losses rather than gains. | rajaster | |
18/9/2013 10:08 | So who is taken up the RO? Personally I don't see the point as I can still see it howevering around 1.60 - 2.0 for a while as people reconsider what to do with their holdings. I personally will not take up the offer. I have a 2p average luckily so don't really see the point. Very handy for those with higher averages and I wish them the best of luck as they deserve it after what Vela did to this company. | rayteuptetash | |
17/9/2013 13:46 | OPL233 work programme costs The Company needs to fund $9.6 million of seismic and operating costs up to 31 January 2014. The current arrangement is that EERNL will fund these costs on behalf of SacOil, as a repayment mechanism for the amounts owed to SacOil. It is uncertain whether EERNL will honour these payment obligations given that EERNL did not meet its repayment obligations at 31 May 2013. Should EERNL continue to default, SacOil will consider enforcing the security provided by EERNL as noted above. SacOil would nevertheless in the interim be responsible to fund these costs in the event EERNL does not honour their commitment. SacOil currently does not have the funds available to make these payments. | rajaster | |
17/9/2013 13:46 | Loan advanced to EERNL The short-term loan due from EERNL became due and payable on 31 May 2013. As at the date of the release of the results EERNL has not fulfilled its repayment obligations in respect of this loan. Discussions are in progress to agree a repayment schedule for this overdue amount. The Company is also considering its position in respect of the default provisions of the loan agreement underlying this receivable. The loan has not been impaired as the value of the security exceeds the carrying value of the loan. Loan receivable from EERNL As noted in note 33, EERNL has not met its repayment obligations on the short term loan repayment, which became due and payable on 31 May 2013. The Company is in discussions with EERNL to renegotiate payment terms and is also considering its rights in terms of the default provisions underlying the loan agreement. It is uncertain at this stage whether EERNL will meet its repayment obligations on or before the proposed repayment date. Should non-payment of the short term loan continue, SacOil will consider enforcing the security provided by EERNL, being EERNL's shares in its subsidiary EER 233 Nigeria Limited which owns a 20% interest in OPL 233, through the disposal of this interest, to recover amounts owed. | rajaster | |
17/9/2013 11:19 | Non-current assets Non-current assets increased by 9% as a result of increases in other financial assets and exploration and evaluation assets, offset by a decrease in property, plant and equipment. The US dollar-based long-term loan due from EER, included in other financial assets, increased to R93,5 million (2012: R66,2 million) in the current year due to the weakening of the Rand and accumulated interest. The Group also re-classified as long term, under other financial assets, a receivable of R56,7 million, following the re-negotiation of the terms of settlement of this financial asset during February 2013. This receivable, which is due for settlement by February 2016, has been discounted to reflect the present value of the future receivable of R75,5 million. Other loans due from operating partners also increased to R35,3 million (2012: R1,9 million) due to increases in activity in our operations. VELA the Son of a | rajaster | |
16/9/2013 18:43 | I am at a loss with this one. The RNS today takes some understanding. Any views on whether they can make this company work. How do we know the BOD has the experience they claim? How do we really know what is going on with all the licences? I have a substantial holding but with all the nonsense of the past ver tempted to sell and move to something more certain. Any suggestions? | mypension | |
13/9/2013 11:48 | ZENGAS Sep'13 - 07:12 - 2529 of 2534 0 0 It's the market cap that's important not the number of shares. -- ZENGAS, I'm very surprised you of all people would say this. Unless the placement is done via a rights issue to existing shareholders, your shares are becoming worth less, even though the MCAP remains the same. Double the shares in issue = your shares devalue by 50% = the MCAP must double for you to be at break even again. | blik | |
13/9/2013 11:07 | What is needed is for the market to see that progress is being made by the new BOD's as quite frankly there appeared to be SFA happening under RV. | yorgi | |
13/9/2013 11:02 | consolidation does look likely.. but it wouldnt be wise without production underpinning the share price else it will be counter productive. | rajaster | |
13/9/2013 09:57 | 1/ A 1:10 consolidation is on the cards to get rid of some of the shares. Punter don't like paper monsters. 2/ This will enable the directors room to issue even more shares when they need additional cash. But they've got a pile of cash I hear you say! Yes, but let's see how long it takes this lot to burn it up. 3/ IMO SAC need to "produce oil" before they come to the table for more dosh. Their performance should be judged on this. | swinging_dick | |
13/9/2013 09:56 | I suspect there will be more important news to follow. It's not as bad as it could of been and I think we have got off lighter than expected. Lets see what lies ahead | rayteuptetash | |
13/9/2013 09:23 | Zangas, both are important, market cap of £68 million as there has to be a demand to flog those shares, with that number this will linger in the 1.5s for year unless production is started!. I do hope they move swiftly to start production in Nigeria. I have to say that for the reasons that Vela was kicked this deal seems harsher. Would perhaps have been better to have let Vela clear the debt, the only addition is the rights Issue so what was the point of the suspension and what is different?.. we know how easy it is to spend money in africa. We are still owed money by EER, there's no update regarding their debt, why are we not charging them 10% interest?. Do we take full ownership, are we allowed by Nigerian Laws? pass the parcel anyone? | rajaster | |
13/9/2013 07:12 | It's the market cap that's important not the number of shares. | zengas | |
13/9/2013 02:31 | does sound a bit mental 3.8 billion shares wow..I thought ECRs number of shares was bad for business. | rajaster | |
12/9/2013 17:44 | Original agreement dated Apr 5th 2013; "conversion of $17.6m debt/interest provided by Gairloch into equity by end of May 2013, thereby leaving SacOil debt free. 488,804,476 shares will be issued at approximately 3.6c to satisfy it's entire outstanding debt to Gairloch." Revised agreement dated Sep 12th 2013; "conversion of $24.1m debt/interest provided by Gairloch into equity by end of Jan 2014, thereby leaving SacOil debt free. 883,449,144 shares will be issued at approximately 2.7c to satisfy it's entire outstanding debt to Gairloch." A lower price than the original agreement (the rejection of which caused the suspension) and they've found $6.5m more debt down the back of the sofa. Shareholders rogered again. | bam bam rubble | |
12/9/2013 17:20 | Not bad at all considering we were suspended at 2p. Currently 893m shares as far I can see. Gairloch will get 883.449m shares to clear the $24.1m debt owed to them at 1.72p. Rights offer at 1.72p of 2.111 billion shares raising £36m/$56m. Total shares in issue would be 3.888b and at 1.75p would be a m/cap of £68m debt free and significantly well funded. Maybe the new Chaiman was serious after all when he said 6 weeks ago about growing the company into a giant pan-African enterprise. Certainly not a bad discount to the price when suspended. Very pleased, so hope all materialises and we get cracking on under this new team. | zengas | |
12/9/2013 17:10 | Checked this RNS roughly but looks good to put the company back on a secure footing. Gairloch being satisfied in new shares at 1.72p. Company then largely debt free. Rights offer works out at 1.725 pence - raising £36m. Should be circa 3.8b shares in issue. M/cap at 1.72p would be circa £65m. Debt free. Would have cash of circa £36m. | zengas | |
09/9/2013 12:47 | Ok, let's have a what's the relist price going to be competition. I'll start... 0.5p | swinging_dick | |
30/8/2013 20:14 | fletcher u sound likw you know whats actually happening big shock..this is AIM.. not the first big shock ive had .. just recently slme and that prat morrison played a blinder. risks of the game. im no better off than a year ago. | rajaster |
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