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Last 33.00
Change Today +1.00 / 3.13%
Volume 355.9K
SCL On Other Exchanges
As of 10:00 AM 11/25/15 All times are local (Market data is delayed by at least 15 minutes).

sacoil holding ltd (SCL) Snapshot

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10/16/15 - $50.00
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sacoil holding ltd (SCL) Details

SacOil Holdings Limited, an independent oil and gas company, engages in the exploration and production of oil and gas properties. The company holds interests in exploration assets located in Nigeria, Malawi, Botswana, the Democratic Republic of Congo, and Egypt. The company was formerly known as SA Mineral Resources Corporation Limited and changed its name to SacOil Holdings Limited in December 2008. SacOil Holdings Limited was incorporated in 1993 and is based in Bryanston, South Africa.

Founded in 1993

sacoil holding ltd (SCL) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: R4.5M
Chief Financial Officer, Finance Director and...
Total Annual Compensation: R494.7K
Group Executive of Operations and Executive D...
Total Annual Compensation: R2.5M
Vice President of Technical & New Business
Total Annual Compensation: R1.3M
Group Executive of Strategy & Business Develo...
Total Annual Compensation: R2.8M
Compensation as of Fiscal Year 2015.

sacoil holding ltd (SCL) Key Developments

SacOil Holdings Limited Announces Consolidated Earnings Results for the Six Months Ended August 31, 2015

SacOil Holdings Limited announced consolidated earnings results for the six months ended August 31, 2015. For the period, the company reported revenue of ZAR 3,001,496. Operating loss was ZAR 3,379,398 against 46,575,517 for the same period a year ago. Profit before taxation was ZAR 19,694,322 against ZAR 30,425,758 for the same period a year ago. Profit for the period was ZAR 2,773,098 against ZAR 20,669,204 for the same period a year ago. Profit attributable to equity holders of the parent was ZAR 10,558,602 or 0.32 cents per basic and diluted share against ZAR 22,320,598 or 0.72 cents per basic and diluted share for the same period a year ago. Net cash used in operating activities was ZAR 35,275,903 against ZAR 20,586,743 for the same period a year ago. Purchase of property, plant and equipment was ZAR 908,104 against ZAR 28,986 for the same period a year ago. Purchase of other intangible assets was ZAR 204,103. Purchase of exploration and evaluation assets was ZAR 435,121 against ZAR 29,233,332 last year. Purchase of oil and gas properties was ZAR 6,474,274. Headline earnings per share were 0.25 cents against 0.72 cents last year. Headline earnings were ZAR 8,238,807 against ZAR 22,320,598 last year.

SacOil Commences Drilling of Lagia 11 Well

SacOil announced that it commenced the drilling of the Lagia 11 well on 13 November 2015, at its 100% owned Lagia oil field in Sinai, onshore Egypt. This forms part of the Phase 2 field development operations. As reported previously, the Lagia 11 well is part of a five well drilling campaign aimed at increasing and optimising production. The Lagia wells will be drilled using the contracted Petro PDSO land rig, Shams 1. The five wells, Lagia 11, 12, 13, 14 and 15 will be targeting the main producing reservoir, the Nukhul formation at approximately 1500 feet below mean sea level. The Phase 2 field development also includes the successful installation and commissioning of steam facilities for a thermal recovery process on the production wells. The existing five production wells were successfully steamed with the formation reacting positively by accepting the injected steam as anticipated. The thermal recovery process yielded positive results with an increase in production rates observed after the first steam and soak cycle using progressive cavity pumps.

SacOil Holdings Limited Provides Earnings Guidance for the Six Months Ended August 31, 2015

SacOil Holdings Limited provided earnings guidance for the six months ended August 31, 2015. For the period, the company announced that shareholders are advised that the basic earnings per share are expected to be between 0.31 cents and 0.34 cents, representing a decrease of between 53% and 57% when compared to the earnings per share of 0.72 cents recorded in the corresponding period ended August 31, 2014. Basic headline earnings per share, which exclude the impact of any re-measurements of assets or liabilities, are expected to be between 0.24 cents and 0.27 cents, representing a decrease of between 63% and 67% when compared to the basic headline earnings per share of 0.72 cents of the corresponding period ended 31, August 2014. Net asset value per share as at August 31, 2015 is expected to be between 24.23 cents and 25.67 cents, an increase of between 1% and 7% when compared to the net asset value per share of 24.10 cents at February 28, 2015.


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