SacOil Gets Extension in Malawi

Monday, June 13, 2016

SacOil was granted an eight-month extension of its current license for Block 1 onshore Malawi. The new expiration date for the current license term for Block 1 is August 21, 2017.

The company is in the process of finalizing the environmental and social impact assessments as well as the evaluation and processing of the countrywide gravity and magnetic data over Block 1. In addition, SacOil is in the process of performing a desktop study on the area, which is yielding encouraging results.

The extension allows to SacOil to complete its work program for the license, which includes the acquisition of infill gravity and magnetic data and completing geological field work over the license.

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