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Sacoil Holdings Limited - Resignation Of Director

Release Date: 25/07/2016 16:45:00      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?)

RESIGNATION OF DIRECTOR

In compliance with section 3.59 of the Listings Requirements of the Johannesburg Stock
Exchange (?JSE?), shareholders are advised that Mr Bradley Cerff has resigned as an
executive director of the Company effective immediately in order to pursue other
opportunities. Mr Cerff has agreed to work a three month notice period in order to
ensure an orderly handover of responsibilities and will formally leave the Company in
October.

Mr Cerff?s responsibilities for the Company?s oil and gas operations will be assumed
on an interim basis by SacOil?s Strategy and Business Development Executive, Willem de
Meyer. Willem has extensive experience in the exploration and production sector, in
particular with PetroSA where he spent 26 years in various senior operational roles
including General Manager of E&P, Vice President of New Business and Chief Economist.

Tito Titus Mboweni, Non-Executive Chairman of SacOil said: ?The Board of SacOil would
like to thank Bradley for his contribution to the growth of the Company and wish him
well for the future. We also appreciate his willingness to oversee an orderly
transition of duties in the coming months as we seek to ensure there is little or no
impact to our operations. We are fortunate to have such a strong operational and
technical team in place, who can build upon the good progress we have made to date
across our portfolio under the considerable experience of Willem. Willem will assume
these responsibilities until a permanent solution can be identified?.

JSE Sponsor

PSG Capital Proprietary Limited

25 July 2016

For further information please contact:

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

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

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

Buchanan (Financial PR adviser) - UK
Ben Romney / Chris Judd / Madeleine Seacombe
+44 (0)20 7466 5000

Hill + Knowlton Strategies (Financial PR adviser) - SA
Craig Atherfold / Eva Khosa
+27 11 463 2198


ABOUT SACOIL

SacOil is a South African based independent African oil and gas company, dual-listed
on the JSE and AIM. The Company has a diverse portfolio of assets spanning production
in Egypt; exploration and appraisal in the Democratic Republic of Congo, Malawi and
Botswana; and midstream projects including crude trading in Nigeria and a terminal
project in Equatorial Guinea. Our focus as a Group is on delivering energy for the
African continent by using Africa?s own resources to meet the significant growth in
demand expected over the next decade. The Company continues to evaluate industry
opportunities throughout Africa as it seeks to establish itself as a leading, full-
cycle pan-African oil and gas company.

Date: 25/07/2016 04:45:00 Supplied by www.sharenet.co.za                     
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