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Sacoil Holdings Limited - Renewal Of Cautionary Announcement

Release Date: 07/09/2017 11:52:00      Code(s): SCL     
SacOil Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1993/000460/06)
JSE Share Code: SCL
ISIN: ZAE000127460

RENEWAL OF CAUTIONARY ANNOUNCEMENT

Further to the cautionary announcement issued on 27 July 2017,
SacOil?s shareholders ("Shareholders") are advised that the
Company remains in advanced negotiations on an exclusive basis
to acquire a South African fuels wholesaler (the ?Proposed
Acquisition?), that sells fuel products, namely diesel, petrol
and paraffin, on a bulk basis to its customers operating within
industrial markets.

Accordingly, Shareholders are advised to continue to exercise
caution when dealing in the Company's securities until a further
announcement is made in this regard.

7 September 2017

Sponsor
PSG Capital Proprietary Limited

For further information please contact:

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

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

ABOUT SACOIL

SacOil is a South African based independent African oil and gas
company, listed on the JSE. The Company has a diverse portfolio
of assets spanning production in Egypt; exploration and
appraisal in the Democratic Republic of Congo; midstream project
relating to crude trading in Nigeria and a majority interest in
Afric Oil, the petroleum product wholesaler. 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: 07/09/2017 11:52:00 Supplied by www.sharenet.co.za                     
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