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SACOIL HOLDINGS LIMITED - Cautionary Announcement

Release Date: 18/12/2014 11:00:00      Code(s): SCL     
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: SCL     AIM Share Code: SAC
ISIN: ZAE000127460
(?SacOil? or ?the Company?)


In terms of paragraph 3.9 of the JSE Listings Requirements,
immediately after an issuer acquires knowledge of any material
price sensitive information and the necessary degree of
confidentiality of such information cannot be maintained, an
issuer must publish a cautionary announcement.

As such, shareholders are advised that, in line with SacOil?s
strategy to focus on proven resources as a base for growth,
the Company has embarked on a process of balancing and
rationalising its portfolio of assets. The objective of the
rationalisation is to restructure the company?s capital needs
and focus on cash generative assets. If successful the
portfolio rationalisation may have a material effect on the
price of the Company?s securities. In particular, SacOil is
considering the cancellation of an agreement to participate in
an appraisal asset in Nigeria. As yet, no transaction has been
formalized and there can be no guarantee as to the terms or
conditions attached to any cancellation of this asset. Further
updates will be made in due course.

Accordingly, shareholders are advised to exercise caution when
dealing in the Company?s securities until a full announcement
is made.

JSE Sponsor

PSG Capital Proprietary Limited

18 December 2014

For further information please contact:

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

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

FirstEnergy Capital (Financial   Adviser   +44 (0) 20 7448 0200
and Joint Broker UK)
Travis Inlow

Instinctif Partners London (UK Investor    +44 (0)20 7457 2020
David Simonson / Anca Spiridon

Instinctif Partners Johannesburg (SA       +27 (0)11 447 3030
Investor Relations)
Nicholas Williams / Fred Cornet

Date: 18/12/2014 11:00:00 Supplied by www.sharenet.co.za                     
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