Hi Pirate.. Best speculative stock of 2010.. see below.. According to Bloomberg, its shares surged more than tenfold since Democratic Republic of Congo (DRC) President Joseph Kabila on June 22 signed a decree confirming the company's rights to explore Block 3 in the Albertine Graben, which straddles the country's border with Uganda. On October 29 CEO Robin Vela purchased over R5m shares at R1.70 in the explorer despite it trading at R1.51. Sacoil is owned by Encha Group, an investment vehicle founded by businessman Tiego Moseneke, the brother of Deputy Chief Justice Dikgang Moseneke. SacOil and partner Divine Inspiration Group in 2008 obtained rights to Block 1, only to have them and Tullow's Block 2 allocated to Caprikat and Foxwhelp, which is partially owned by Khulubuse Zuma, the nephew of President Jacob Zuma. In December SacOil said it is interested in a joint-venture with Caprikat and Foxwhelp, in which it would help raise financing for the development of the blocks, reports Bloomberg.
Yes always difficult to say with exploration stocks that show a promise. It's always possible that some mining right or entitlement could be withdrawn and everything crashes, leaving poor investers running for cover. However, doing your home correctly with any start up it paramount.Look at the potential of Royal Ba*****ing now .. great !