Sacoil Holdings Ltd
* Withdrawal of participation in Oil Prospecting Licence (“OPL”) 233
* Has terminated its joint venture with Nigdel United Oil Company (“NIGDEL”) of Nigeria, and consequently its participation in oil prospecting licence (“opl”) 233
* Has right to be refunded by Nigdel for all costs expensed to date on OPL 233
* Has embarked on a process of balancing and rationalising its portfolio of assets
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* Aim of rationalisation is to restructure company’s future capital requirements – focusing on cashgenerative assets and low risk exploration assets
* Has no future commitments and obligations associated with appraisal of OPL 233 Source text for Eikon: Further company coverage: