Receipt of US$10 million Associated with the Expiry of OPL 233 Performance Bond 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”) RECEIPT OF US$10 MILLION ASSOCIATED WITH THE EXPIRY OF OPL 233 PERFORMANCE BOND SacOil Holdings Limited is pleased to announce the receipt of US$10 million from Ecobank, associated with the cash collateral that secured the performance bond on OPL 233. The cash collateral was originally paid as part of SacOil and Energy Equity Resources Norway Limited’s (“EERNL”) obligations to post a performance bond on OPL 233 in April 2012. This performance bond expired on 2 May 2015. The full refund of US$10 million was received by SacOil on 5 June 2015. Half of the US$10 million receipt is treated as a part repayment of EERNL’s outstanding loan related to OPL 233. Dr Thabo Kgogo, Chief Executive Officer of SacOil, commented, “This represents another positive step in line with our strategy to ensure that SacOil has a strong cash position to fund its future growth ambitions by increasing production and focusing on cash generative assets.” This refund removes the restriction on the cash balance associated with the cash collateral. JSE Sponsor PSG Capital Proprietary Limited 09 June 2015 For further information please contact: SacOil Holdings Limited +27 (0)10 591 2260 Damain Matroos finnCap Limited (Nominated Adviser and +44 (0)20 7220 0500 Broker) Christopher Raggett FirstEnergy Capital (Financial Adviser +44 (0)20 7448 0200 and Joint Broker UK) Travis Inlow Instinctif Partners London (UK Investor +44 (0)20 7457 2020 Relations) David Simonson / Anca Spiridon Instinctif Partners Johannesburg (SA +27 (0)11 447 3030 Investor Relations) Nicholas Williams / Tshepo Mophiring Date: 09/06/2015 08:00:00 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.