Yemisi Izuora
Sacoil Holdings Limited stock had its “corporate” rating restated by equities research analysts at FinnCap in a note issued to investors today, Analyst Ratings Network.com reports.
They currently have a GBX 5 ($0.08) target price on the oil and gas exploration company’s stock.
FinnCap’s target price suggests a potential upside of 412.82% from the company’s previous close.
Shares of Sacoil Holdings Limited opened at 0.98 Thursday. The firm’s market cap is GBX 31.88 million.
Sacoil Holdings Limited has a 52-week low of GBX 0.91 and a 52-week high of GBX 3.15. The stock’s 50 day moving average price is GBX 1.05 and its 200-day moving average price is GBX 1.20.
SacOil Holdings Limited is an independent African oil and gas company.
The Company focuses on opportunities within hydrocarbon basins, across the Exploration and Production spectrum from production, appraisal/near-term production through to exploration opportunities.
The Company holds a portfolio of assets in the oil and gas industry which includes interests in Malawi, the DRC, Nigeria and Botswana.
The Company’s assets include: operational assets, which include Malawi – Block I, Democratic Republic of Congo (LON:SAC) – Block III and Botswana – Licenses 123, 124, 125; assets under acquisition, which include Nigeria – OPL 281 and Nigeria – OPL 233, and Sacoil Holdings Limited.
The DRC block III encompasses an area of approximately 3,177 square kilometers, which is located in the prospective Albertine Graben.
The Malawi – Block 1 is located on trend with the East African rift system which is an exploration province and has resulted prolific oil discoveries in Sudan, Chad, Kenya and Uganda.