Scl - Sacoil Holdings Limited Sacoil Appoints Two Senior Managers To Release Date: 10/01/2012 09:00:01 Code(s): SCL
SCL - SACOIL Holdings Limited SACOIL appoints two senior managers to
strengthen operational and new business teams and further cautionary
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" or "the Group")
10 January 2012
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
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.
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
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
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.
The Standard Bank of South Africa Limited
For further information please contact:
AIM Nominated Adviser and Joint Broker
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- +44 (0)20 7861 3232
Additional information on SacOil can be found at www.sacoilholdings.com.
Date: 10/01/2012 09:00:01 Supplied by www.sharenet.co.za
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