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SACOIL HOLDINGS LIMITED - Cautionary Announcement

Release Date: 24/02/2014 13:15:00      Code(s): SCL     
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE share code: SCL AIM share code: SAC
ISIN: ZAE000127460
(?SacOil? or the "Company?)


Shareholders are hereby advised that the Company has entered into an expression of interest
(?EoI?) dated 19 February 2014 with The Instituto De Gest?o Das Participac?es Do Estado,
an entity that manages investment portfolios and shares on behalf of the Government of the
Republic of Mozambique, and The Public Investment Corporation (SOC) Limited to
investigate gas opportunities relating to the future distribution of gas in Southern Africa.

The purpose of the EoI is purely to govern the preliminary discussions, and formalise the
relationship, between the parties. These discussions are at a very early stage, with the
intention of concluding a formal memorandum of understanding by the end of March 2014.

The above-mentioned may have a material effect on the price of SacOil?s shares and
accordingly shareholders are advised to exercise caution when dealing in the Company?s
shares until a further announcement is made.

24 February 2014

JSE Sponsor
Nedbank Capital

For further information please contact:

SacOil Holdings Limited
Roger Rees / Tariro Mudzimuirema                                   +27 (0)11 575 7232

Nedbank Capital, a division of Nedbank Limited (Sponsor)           +27 (0) 11 294 3524
Michelle Benade

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

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

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: 24/02/2014 01:15:00 Supplied by www.sharenet.co.za                     
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