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SacOil hires PetroSA VP Thabo Kgogo as new chief executive

Published: 17:08 29 Apr 2014 AEST

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SacOil's (LON:SAC) corporate restructuring made progress today with the appointment of Dr Thabo Kgogo as the chief executive officer.

On June 1, Kgogo will join SacOil from South Africa's nation oil company PetroSA, where he is vice president of operations. He takes over from interim SacOil CEO Roger Rees.

SacOil chairman Tito Mboweni said: "We are delighted that Thabo has agreed to join the company. 

"His experience in the oil & gas industry will be extremely valuable as we continue to grow the business and engage new opportunities that exist throughout Africa."

SacOil shares have been in recovery mode in 2014, more than doubling in the year so far, and most recently the news that a 3D seismic programme was planned for the OPL233 asset in the Niger Delta provided encouragement.

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