SOUTH African oil and gas firm Energy Africa said on Wednesday it is well positioned to ride out volatility in oil prices in the medium term by exploiting its growing exploration portfolio across Africa. The group earlier reported turnover for the 13 months to September 30 of R430,9-million compared to R340,2-million in the 12 months to the end of August 31, 1998. Operating loss, meanwhile, shrank to R33-million in the period from R61,4-million, while the net loss excluding exceptional items was R60,9-million.