Stock Exchange News Service Dealing in securities by a director 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 Companyâ€) DEALING IN SECURITIES BY A DIRECTOR In terms of paragraph 3.63 - 3.65 of the JSE Limited Listings Requirements, the following information, relating to the dealings in the securities by a director, is disclosed: Director: Dr Thabo Kgogo Status: Executive Director - SacOil Transaction date: 20 June 2017 Number of share: (1) 200 (2) 130 800 Price per share: (1) 19 cents (2) 20 cents Transaction value: (1) R38.00 (2)R26 160.00 Type of securities: Ordinary shares Nature of transaction: Purchase of shares on the open market Extent of interest: Direct beneficial Written clearance Yes obtained: JSE Sponsor PSG Capital Proprietary Limited 21 June 2017 For further information please contact: SacOil Holdings Limited Damain Matroos +27 (0)10 591 2260 Buchanan (Financial PR adviser) - UK Ben Romney / Chris Judd / Madeleine Seacombe +44 (0)20 7466 5000 Date: 21/06/2017 12:59
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I am wondering if Sacoil will start moving up from the current Share Price from this point? (JSE Share price is very low)
"The restructuring of the group's portfolio of assets and the resolution of legacy issues has positioned the group to pursue more opportunities on the African continent. In the execution of our revised strategy we will be adding more cash-generative assets, advancing our exploration assets and progressing studies in Mozambique. We intend to progress the development of the Lagia Oil Field and increase production to more than 1,000 barrels per day. Management will continue to focus on risk management across our portfolio," it said in a statement.
Oil price has risen the last two months. Sasol SP has slowly risen over 90 days. I think Sacoil will follow suit with their SP. I am watching closely. Gerald