• Climate change update

    We need to cast off yesterday's ideas and put earth's wellbeing first, says Mandi Smallhorne.

  • Lessons from KPMG

    KMPG has learnt the hard lesson that SA is fed up with corruption, says David Everatt.

  • Terry Bell's Inside Labour

    Will it be man vs machine in the scary self-service future into which we are all being dragged?

Loading...

SacOil transfers loan agreement

Dec 31 2012 11:20
I-Net Bridge

Company Data

SACOIL HOLDINGS LIMITED [JSE:SCL]

Last traded 0
Change 0
% Change 0
Cumulative volume 723260
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

SacOil completes Greenhills sale

 
Johannesburg - SacOil Holdings [JSE:SCL]‚ the African independent upstream oil & gas company‚ has entered into a series of agreements that will enable the transfer of its existing loan agreement with RenCap Securities to Gairloch Limited - a private investment holding company registered in the British Virgin Islands.

The loan is for the amount of $11.25m and was provided to SacOil to fund the $10.0m cash collateral required to enable the posting of the $25.0m performance bond for Block OPL 233 in Nigeria (OPL233)‚ the company said on Monday.

SacOil has also successfully put in place some amendments to the loan it provided EER‚ its partner in Block OPL 233 in Nigeria as part of the farm-in to that block. The changes will ensure repayment of part of the loan by May 31 2013.

The mutually agreed total outstanding amount owed to SacOil by EER was $26.4m as at November 30 2012‚ it said.
 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

sacoil holdings

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The SARB’s Monetary Policy Committee will decide on the next move in interest rates tomorrow will they?

Previous results · Suggest a vote

Loading...