11th Aug 2014 12:48
LONDON (Alliance News) - African oil and gas company, SacOil Holdings Ltd, Monday moved to quash press speculation that it was in talks acquire a production asset in Nigeria.
"Contrary to a recent press report, it [SacOil] is not in discussions and/or negotiations to make an acquisition of a production asset in Nigeria nor is it seeking to acquire any asset producing 5,000 barrels of oil per day," the company said in a statement Monday.
While SacOil hit back at press reports by Bloomberg and The Guardian at the end of July, that it was in talks to buy its first producing well in Nigeria, the company said in its statement Monday, that it "continuously seeks opportunities to expand and optimise its portfolio of upstream assets."
The company said that it will "engage in informal discussions from time to time with several parties regarding such opportunities."
In a statement earlier Monday, SacOil said that it has appointed Bradley Cerff as an executive director with immediate effect.
SacOil shares were trading 3.5% higher Monday afternoon at 2.97 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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