TIDMSAC
RNS Number : 2140V
SacOil Holdings Limited
10 January 2012
SACOIL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE share code: SCL
AIM share code: SAC
ISIN: ZAE0000127460
("SacOil" or "the Company" or "the Group")
10 January 2012
Johannesburg
SacOil appoints two senior managers
to strengthen operational and new business teams and
further cautionary announcement (JSE)
SacOil, the African independent upstream oil and gas Company, is
pleased to announce the appointments of Willem de Meyer as Vice
President - Commercial and Jordaan Fouche as Vice President -
Technical and New Business, effective today.
The two senior appointments are part of SacOil's ongoing process
to strengthen its core technical and operational team in order to
further develop current projects and advance initiatives to secure
new value accretive acreage in proven hydrocarbon basins across
Africa.
Willem has over 25 years' experience in the upstream Exploration
and Production ('E&P') business in Africa and will assist
Bradley Cerff, the current Vice President - Operations, with the
technical and operational development of SacOil's projects.
Jordaan's understanding of the commercial aspects of the Oil and
Gas ('O&G') business and established relationships developed
over 25 years as an investor in oil and gas companies and assets
will enable him to evaluate new accretive acreage and bolster
SacOil's commercial initiatives into Africa.
Robin Vela, Chief Executive Officer, of SacOil, commented:
"We are delighted that Willem and Jordaan have joined SacOil.
Both men are well known and regarded in the African O&G
industry and have a sound understanding of its commercial aspects.
They will contribute extensive technical and operational skills and
near term deal flow as we seek to develop our current assets and
grow our footprint across Africa."
Further cautionary announcement (JSE)
In compliance with JSE Limited ("JSE") Listings Requirement 3.9
and with reference to the further cautionary announcement published
on Thursday, 24 November 2011 on the Stock Exchange News Service of
the JSE and on the Regulatory News Service of the London Stock
Exchange, SacOil shareholders ("Shareholders") are advised that the
Company is still in the process of considering various proposals
and potential transactions, which if successfully concluded, may
have a material effect on the price of SacOil ordinary shares
("Shares").
Accordingly, Shareholders are advised to continue to exercise
caution when dealing in their Shares until a further announcement
is made in this regard.
ENDS
Background note
Willem de Meyer, Vice President - Commercial
Willem obtained a B.Sc (Hons) degree in Geophysics at the
University of Pretoria and a M.Com degree in Mineral Economics at
the Rand Afrikaans University.
His 25 years of technical and operational experience in the
O&G industry with PetroSA, the National Oil Company of South
Africa, and SOEKOR, which he joined in 1982 and subsequently became
part of PetroSA.
Willem held a variety of senior managerial roles, including
General Manager of E&P, Vice President of new business and
chief economist. A Geophysicist by training, he is a member of the
South African Geophysical Association and registered as a
Professional Natural Scientist with the South African Council for
Natural Scientific Professions.
Willem will, on a part time basis, retain his responsibilities
as an Investment Analyst to the Earth Resource Investment
Group.
Jordaan Fouche, Vice President - Technical and New Business
Jordaan holds an honours degree in Geology and an MBA, both from
the University of Stellenbosch.
He has over 25 years' experience in the O&G industry
primarily as an investor in O&G companies and assets. Jordaan
developed his operational and technical skills set as a
geophysicist at SOEKOR / PetroSA, where he was a Project Leader and
International Portfolio Manager and was extensively involved in
both technical and commercial work, including seismic acquisition
and interpretation and the commercial analysis of O&G
reservoirs.
Jordaan was a founding member of the Earth Resource Investment
Group, a leading and award winning energy resource investment fund.
Prior to that, he spent time as an Investment Analyst at Craton
Capital and a Senior Project Manager at Industrial Development
Corporation, a South African development finance institution.
About SacOil
SacOil is a South African based E&P Company and is listed on
the JSE and AIM. The Company is focused on exploring, appraising
and developing African O&G operations to near term production,
predominately in consortiums with global major O&G companies.
This approach enables the Company to manage portfolio risk and
ensure that the optimum technical and operating skills are applied.
SacOil intends to expand its African footprint and continues to
evaluate opportunities to secure new value accretive acreage in
other established and prolific African hydrocarbon basins.
JSE Sponsor
The Standard Bank of South Africa Limited
For further information please contact:
AIM Nominated Adviser and Joint Broker
finnCap Ltd
Matthew Robinson / Christopher Raggett +44 (0)20 7220 0500
Joint Broker (United Kingdom)
Shore Capital Stockbrokers Ltd
Jerry Keen / Bidhi Bhoma +44 (0)20 7408 4090
Public Relations (South Africa)
The Riverbed Agency (SA)
Raphala Mogase / Bongiwe Moeli +27 (0) 11 783 7903
Public Relations (United Kingdom)
Pelham Bell Pottinger (UK)
Philip Dennis/ Nick Lambert/Rollo Crichton-Stuart +44 (0)20 7861 3232
Additional information on SacOil can be found at
www.sacoilholdings.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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