SCL - SacOil Holdings Limited - Detailed cautionary announcement in respect of

SCL - SacOil Holdings Limited - Detailed cautionary announcement in respect of  
Block III, Albertine Graben in the Democratic Republic of the Congo ("Block     
III")                                                                           
SacOil Holdings Limited                                                         
Incorporated in the Republic of South Africa (Registration number:              
1993/000460/06)                                                                 
Share code: SCL                       ISIN code: ZAE000127460                   
("SacOil" or "the Company")                                                     
Detailed cautionary announcement in respect of Block III, Albertine Graben in   
the Democratic Republic of the Congo ("Block III")                              
The board of SacOil (the "Board") wishes to announce that, further to previous  
announcements the last of which was made on 19 January 2011, it is in advanced  
negotiations with TOTAL E&P RDC ("Total") pursuant to which Total will farm into
an undivided interest in Block III. The Government of the Democratic Republic of
the Congo, acting through the Minister of Hydrocarbons, has consented to Total  
farming into and being appointed Operator of Block III.                         
The Board is currently finalising negotiations and full details of the farm in  
agreement will be announced in due course.                                      
SacOil shareholders are therefore required to continue to exercise caution when 
dealing in their SacOil securities, until a further announcement is made in this
regard.                                                                         
Bryanston                                                                       
16 February 2011                                                                
Sponsor                                                                         
BDO Corporate Finance                                                           
Contacts                                                                        
SacOil                                                                          
Robin Vela, Chief Executive Officer                                             
Tel : +27 (0) 11 575 7232                                                       
Conduit PR (Public Relations)                                                   
Jonathan Charles / Jos Simson                                                   
Tel: +44 (0) 20 7429 6666                                                       
The Riverbed Agency                                                             
Raphala Mogase                                                                  
Tel: +27 (0) 11 783 7903                                                        
Date: 16/02/2011 07:05:06 Supplied by www.sharenet.co.za                     
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