Go Back Email this Link to a friend

Sol - Sasol Limited - Sasol Announces The Completion Of The Second Acquisition

Release Date: 10/06/2011 13:45:01      Code(s): SOL SOLBE1
SOL - Sasol Limited - Sasol announces the completion of the second acquisition  
of a 50% participation interest in The Montney Gas Basin in Canada              
Sasol Limited                                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number 1979/003231/06)                                            
Sasol Ordinary Share codes:   JSE : SOL      NYSE : SSL                         
Sasol Ordinary ISIN codes:    ZAE000006896   US8038663006                       
Sasol BEE Ordinary Share code:     JSE : SOLBE1                                 
Sasol BEE Ordinary ISIN code:      ZAE000151817                                 
("Sasol")                                                                       
SASOL ANNOUNCES THE COMPLETION OF THE SECOND ACQUISITION OF A 50% PARTICIPATION 
INTEREST IN THE MONTNEY GAS BASIN IN CANADA                                     
Shareholders of Sasol are referred to the SENS announcement released on 8 March 
2011 regarding the acquisition by Sasol of a 50% interest in the high quality   
Cypress A Assets from Talisman Energy Inc. for a total purchase consideration of
CAD$1 050 million (ZAR7 413 million at the closing CAD/ZAR exchange rate of 7,06
on 7 March 2011)(the "Transaction").                                            
The Transaction was subject to various suspensive conditions referred to in the 
announcement released on SENS on 8 March 2011.  Sasol shareholders are advised  
that all the suspensive conditions to the Transaction have been fulfilled and   
that the Transaction closed on 10 June 2011 ("the closing date").               
The final aggregate consideration amounts to CAD$1 034 million (ZAR7 162 million
at the closing CAD/ZAR exchange rate of 6,93 on 9 June 2011) and comprises an   
initial purchase price for the Cypress A Assets of CAD$246 million (ZAR1 704    
million), which was paid in cash on the closing date, and CAD$788 million (ZAR5 
458 million) in the form of a commitment to fund 75% of Talisman`s 50% portion  
of certain future development costs to further develop both the Farrell Creek   
and Cypress A Assets in terms of a joint development plan until such time that  
the aggregate purchase consideration has been paid in full.                     
Johannesburg                                                                    
10 June 2011                                                                    
Exclusive Financial advisor                                                     
Morgan Stanley & Co                                                             
Legal advisor                                                                   
Fraser, Milner & Casgrain                                                       
Sponsor                                                                         
Deutsche Securities (SA) (Pty) Limited                                          
Forward-looking statement - Disclaimer:                                         
The estimates of contingent resources contained in this announcement are based  
on definitions provided by the Society of Petroleum Engineers.  Contingent      
resources do not constitute, and should not be confused with, reserves.         
Contingent resources are defined as those quantities of petroleum estimated, as 
of a given date, to be potentially recoverable from a known accumulation by     
application of development projects, but which are not currently considered to  
be commercially recoverable due to one or more contingencies.  There is         
therefore uncertainty as to the portion of the volumes identified as contingent 
resources that will be commercially producible.                                 
Sasol may, in this announcement, make certain statements that are not historical
facts and relate to analyses and other information which are based on forecasts 
of future results and estimates of amounts not yet determinable. These          
statements may also relate to our future prospects, developments and business   
strategies. Examples of such forward-looking statements include, but are not    
limited to, statements regarding exchange rate fluctuations, volume growth,     
increases in market share, total shareholder return, resource volumes and values
and cost reductions. Words such as "believe", "anticipate", "expect", "intend", 
"seek", "will", "plan", "could", "may", "endeavour" and "project" and similar   
expressions are intended to identify such forward-looking statements, but are   
not the exclusive means of identifying such statements.                         
By their very nature, forward-looking statements involve inherent risks and     
uncertainties, both general and specific, and there are risks that the          
predictions, forecasts, projections and other forward-looking statements will   
not be achieved. If one or more of these risks materialise, or should underlying
assumptions prove incorrect, our actual results may differ materially from those
anticipated. You should understand that a number of important factors could     
cause actual results to differ materially from the plans, objectives,           
expectations, estimates and intentions expressed in such forward-looking        
statements. Some of these factors are discussed more fully in our most recent   
annual report under the Securities Exchange Act of 1934 on Form 20-F filed on 28
September 2010 and in other filings with the United States Securities and       
Exchange Commission. The list of factors discussed therein is not exhaustive;   
when relying on forward-looking statements to make investment decisions, you    
should carefully consider both these factors and other uncertainties and events.
Forward-looking statements apply only as of the date on which they are made, and
we do not undertake any obligation to update or revise any of them, whether as a
result of new information, future events or otherwise.                          
Morgan Stanley & Co and its affiliates are acting as independent financial      
advisor to Sasol Limited and no one else in connection with the transaction and 
will not be responsible to anyone other than Sasol Limited for providing the    
protections afforded to the clients of Morgan Stanley & Co nor for providing    
advice in relation to the transaction, the contents of this announcement or any 
other matter referred to herein.                                                
Date: 10/06/2011 13:45:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          



                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2017 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.