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Sacoil Holdings Limited - Further Cautionary Announcement

Release Date: 02/02/2015 15:00:00      Code(s): SCL     
SACOIL HOLDINGS LIMITED
(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?)

FURTHER CAUTIONARY ANNOUNCEMENT

In compliance with JSE Limited (?JSE?) Listings Requirement
3.9 an issuer that has published a cautionary announcement
must provide updates thereon in the required manner and
within the time limits prescribed.

With reference to the cautionary announcement published on
18 December 2014 on the Stock Exchange News Service of the
JSE and on the Regulatory News Service of the London Stock
Exchange, SacOil shareholders (?Shareholders?) are advised
that the Company is still in the process of considering its
portfolio rationalisation, which, if successfully concluded,
may have a material effect on the price of SacOil ordinary
shares (?Shares?). 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 continue to exercise
caution when dealing in their Shares until a further
announcement is made in this regard.

JSE Sponsor

PSG Capital Proprietary Limited

2 February 2015

For further information please contact:

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

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

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

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

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

Date: 02/02/2015 03:00:00 Supplied by www.sharenet.co.za                     
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