JSE Cautionary Announcement - Clarification of recent media coverage 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”) JSE CAUTIONARY ANNOUNCEMENT In terms of paragraph 3.9 of the JSE Listings Requirements, immediately after an issuer acquires knowledge of any material price sensitive information and the necessary degree of confidentiality of such information cannot be maintained, an issuer must publish a cautionary announcement. As such, shareholders are advised that SacOil has entered into non-binding negotiations (“the Potential Transaction”) which, if successfully concluded, may have a material effect on the price of the Company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made. CLARIFICATION OF RECENT MEDIA COVERAGE SacOil advises that, contrary to a recent press report, it is not in discussions and/or negotiations to make an acquisition of a production asset in Nigeria nor is it seeking to acquire any asset producing 5,000 barrels of oil per day. However, SacOil in its normal course of business continuously seeks opportunities to expand and optimise its portfolio of upstream assets, and will engage in informal discussions from time to time with several parties regarding such opportunities. Johannesburg 11 August 2014 JSE Sponsor Nedbank Capital For further information please contact: SacOil Holdings Limited Tariro Mudzimuirema +27 (0)11 575 7232 Nedbank Capital, a division of Nedbank Limited (Sponsor) Michelle Benade +27 (0) 11 294 3524 finnCap Limited (Nominated Adviser and Broker) Matthew Robinson / Christopher Raggett +44 (0) 20 7220 0500 FirstEnergy Capital (Joint Broker UK) Majid Shafiq +44 (0) 20 7448 0200 Travis Inlow Pelham Bell Pottinger (UK) Philip Dennis +44 (0) 20 7861 3919 Nick Lambert +44 (0) 20 7861 3936 Rollo Crichton-Stuart +44 (0) 20 7861 3918 Date: 11/08/2014 02:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.