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Impact Oil & Gas, which is nearly half owned by Hosken Consolidated Investments (HCI), announced on Monday it is looking to raise up to $60m (R1bn) from existing shareholders for  further drilling to value the oilfield off the coast of Namibia. 

HCI, a company better known for its holdings in Tsogo Sun, coal and platinum mining, gambling and Golden Arrow buses, also owns 49.2% of London-based Impact, an oil exploration company. ..

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