Kinshasa - Total is in talks to buy an oil block in the Democratic Republic of Congo controlled by a South African consortium led by a unit of Johannesburg-listed SacOil Holdings [JSE:SCL], Total said on Tuesday.
"Talks are under way, but no deal has been signed. As such it is too early to comment," said a Total spokesperson in Paris by telephone of media reports about negotiations over Block 3, in the eastern Lake Albert Region.
SacOil shares gained 4.7% to R1.77 in Tuesday mid-afternoon trade.
Block 3 was one of four blocks along the oil-rich Albertine Graben, straddling the border with Uganda, which were ratified by Congo last June.
Congo subsequently asked SacOil to pay an additional $2m signature bonus on the block on top of an original payment of $2m.
SacOil said at the time it had agreed to an increase but did not say how much.
"Talks are under way, but no deal has been signed. As such it is too early to comment," said a Total spokesperson in Paris by telephone of media reports about negotiations over Block 3, in the eastern Lake Albert Region.
SacOil shares gained 4.7% to R1.77 in Tuesday mid-afternoon trade.
Block 3 was one of four blocks along the oil-rich Albertine Graben, straddling the border with Uganda, which were ratified by Congo last June.
Congo subsequently asked SacOil to pay an additional $2m signature bonus on the block on top of an original payment of $2m.
SacOil said at the time it had agreed to an increase but did not say how much.