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SACOIL HOLDINGS LIMITED - Appointment of Vice President Finance and Change to the board of directors

Release Date: 31/07/2012 08:00:00      Code(s): SCL     
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE share code: SCL
AIM share code: SAC
ISIN: ZAE0000127460
("SacOil" or "the Company")

Appointment of Vice President Finance and Change to the board of directors

SacOil, the independent African upstream oil & gas company, is pleased to announce the appointment of Mr
Craig Campbell as Vice President Finance of SacOil with effect from 1 September 2012.

Following the appointments of Willem de Meyer as Vice President Commercial and Jordaan Fouche as Vice
President Technical and New Business, the appointment of Craig is a further key step in strengthening SacOil?s
management team and to executing the Company?s growth strategy given his experience in financial
management and project financing of resource assets.

Craig has served in senior financial roles and on the boards of resources companies listed on the JSE Limited,
AIM market of the London Stock Exchange, Australian Securities Exchange and Toronto Stock Exchange. He
has extensive exposure to and knowledge of the development of significant resource exploration projects,
corporate governance and corporate finance as well as international financial reporting standards across a
number of jurisdictions. Craig is a member of the South African Institutes of Chartered Accountants and

The Board takes this opportunity to welcome Craig in anticipation of the valuable contribution he will make to the
SacOil group.

Further to the above, Mrs Carina de Beer has resigned as Financial Director of SacOil with effect from 30 July
2012 though she will remain with the Company for the next six months to ensure a smooth transition of
responsibilities. The Board wishes to thank Carina for her commitment to SacOil over the past two years.

A further announcement will be made as soon as the appointment of a new financial director to the board of
SacOil has been finalised.

31 July 2012

JSE Sponsor
Nedbank Capital

For further information please contact:

finnCap Limited (Nominated Adviser and Broker)                        +44 (0) 20 7220 0500
Matthew Robinson / Christopher Raggett

First Energy Capital (Joint Broker UK)                                +44 (0) 20 7448 0200
Majid Shafiq
Travis Inlow

GMP Securities Europe LLP (Joint Broker UK)                           +44 (0) 20 7647 2800
James Pope
Chris Beltgens
Keyter Rech Investor Solutions (SA)                                   +27 (0) 11 447 2993
Vanessa Ingram
Lynne Bothma

The Riverbed Agency (SA)                                              +27 (0) 11 783 7903
Raphala Mogase

Pelham Bell Pottinger (UK)
Philip Dennis                                                         +44 (0) 20 7861 3919
Nick Lambert                                                          +44 (0) 20 7861 3936
Rollo Crichton-Stuart                                                 +44 (0) 20 7861 3918

Date: 31/07/2012 08:00:00 Supplied by www.sharenet.co.za                     
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