FirstEnergy Capital has released a Company Update on SacOil Holdings, detailing their analysis of the company's financial data and the expected impact of recent developments on SacOil's risk-profile. The report cites SacOil's Lagia oil field acquisition, its strong balance sheet and the recent title perfecture of OPL233 in Nigeria as significant factors influencing the company's greatly improved risk-profile.

Dr Thabo Kgogo, SacOil CEO expressed his satisfaction with the findings of the report, saying it is “a fair reflection of SacOil's excellent value proposition. The Lagia acquisition is just one example of our drive towards a balanced portfolio, which now offers shareholders exposure to discovered oil and long term exploration investment opportunities", he adds.

Tags: SacOil Holdings