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Sacoil Holdings Limited - Commencement Of 2d Seismic Data Acquisition, Block Iii, Albertine Graben, Democratic Republic Of Congo

Release Date: 17/02/2016 09:00:00      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?)

COMMENCEMENT OF 2D SEISMIC DATA ACQUISITION, BLOCK III, ALBERTINE
GRABEN, DEMOCRATIC REPUBLIC OF CONGO

With the granting of a two-year extension to current exploration
period of Block III by the Minister of Hydrocarbons of the
Democratic Republic of Congo (?DRC?), Total E&P RDC (?Total?) as
operator of Block III, has commenced with the acquisition of a 2D
seismic survey.

As reported previously, the current survey design envisages the
acquisition of 300 km of 2D seismic data over the northern part of
the Block III area. The survey will not encroach on the Virunga
National Park.

This seismic acquisition program is in fulfilment of the work
program obligations.

SacOil holds a 12.5% effective interest in Block III.

Johannesburg

17 February 2016

JSE Sponsor

PSG Capital Proprietary Limited


For further information please contact:

SacOil Holdings Limited                   +27 (0) 10 591 2260
Bradley Cerff

finnCap Limited (Nominated Adviser and    +44 (0) 20 72200 500
broker)
Christopher Raggett and James Thompson

FirstEnergy Capital (Financial Adviser    +44 (0) 20 74480 200
and Joint Broker UK)
Hugh Sanderson / David van Erp

Buchanan Communications Limited           +44 (0) 20 7466 5000
Ben Romney

Date: 17/02/2016 09:00:00 Supplied by www.sharenet.co.za                     
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