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Sacoil Holdings Limited - Update On The African Renaissance Gas Pipeline In Mozambique

Release Date: 25/04/2016 08:00:00      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?)


UPDATE ON THE AFRICAN RENAISSANCE GAS PIPELINE IN MOZAMBIQUE

Further to the announcement on 1 March, 2016, SacOil announces
that a Joint Venture Agreement for the development of the African
Renaissance Pipeline Project (?Project?) was signed in Maputo,
Mozambique on Friday, April 22, 2016 by the following parties
i.e. Empresa Nacional de Hidrocarbonetos (ENH), Profin
Consulting Sociedade Anonima (Profin), China Petroleum Pipeline
Bureau (CPP), China Petroleum & Technology Development
Corporation (CPTDC) and Progas Investment Group (Pty) Limited.

SacOil as a Company elected not to sign the Joint Venture
Agreement at this time, while the Board evaluates the Agreement
and the associated opportunity with regards to the Company?s
participation in the Project. The Company will provide an
update in due course.

JSE Sponsor
PSG Capital Proprietary Limited

25 April 2016

Enquiries:

SacOil Holdings Limited                        +27 (0)10 591 2260
Damain Matroos


finnCap Limited (Nominated adviser            +44 (0)20 7220 0500
and broker)
Christopher Raggett / James Thompson


FirstEnergy Capital (Joint broker)           +44 (0)20 7448 0200
Hugh Sanderson / David van Erp    


Buchanan (Financial PR adviser)              +44 (0)20 7466 5000
Ben Romney / Helen Chan / Madeleine sacoil@buchanan.uk.com
Seacombe


About SacOil
SacOil is a South African based independent African oil and gas
company, dual-listed on the JSE and AIM, with business
operations in Egypt, the Democratic Republic of Congo ("DRC"),
the Republic of Malawi and the Republic of Botswana. The Public
Investment Corporation (SOC) Limited (?PIC?) is the largest
shareholder of SacOil. SacOil has partnered with the PIC, ENH,
Profin and Chinese Pipeline Petroleum Engineering on a project
that entails the construction of a gas pipeline from Mozambique
to South Africa and the distribution and marketing of gas in
southern Africa. SacOil continues to evaluate upstream,
refining and downstream opportunities in other established and
prolific hydrocarbon basins in Africa.


For further information, please visit www.sacoilholdings.com.

Date: 25/04/2016 08:00:00 Supplied by www.sharenet.co.za                     
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