Commencement of 2D Seismic Data Acquisition, Block III, Albertine Graben, Democratic Republic of Congo
17 Feb 2016
SACOIL HOLDINGS LIMITED
Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: SCL AIM Share Code: SAC
(“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.
17 February 2016
PSG Capital Proprietary Limited
For further information please contact:
SacOil Holdings Limited
+27 (0) 10 591 2260
finnCap Limited (Nominated Adviser and broker)
Christopher Raggett and James Thompson
+44 (0) 20 72200 500
FirstEnergy Capital (Financial Adviser and Joint Broker UK)
Hugh Sanderson / David van Erp
+44 (0) 20 74480 200
Buchanan Communications Limited
+44 (0) 20 7466 5000