Licence Extension to Block 1, Onshore Republic of Malawi 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”) LICENCE EXTENSION TO BLOCK 1, ONSHORE REPUBLIC OF MALAWI SacOil is pleased to announce that an eight month extension of the current licence term of onshore licence, Block 1 – located in the northern part of Malawi, has been granted with the expiry date now confirmed as 12 August 2017. To date, SacOil, as operator, is in the process of finalising the environmental and social impact assessments as well as the evaluation and processing of the countrywide gravity and magnetic data over Block 1. In addition, SacOil is in the process of performing a desktop study on the area, which is yielding encouraging results. The extension allows to SacOil to complete its work program for the licence, which includes the acquisition of infill gravity and magnetic data and completing geological filed work over the licence. JSE Sponsor PSG Capital Proprietary Limited 09 June 2016 For further information please contact: SacOil Holdings Limited +27 (0)10 591 2260 Bradley Cerff finnCap Limited (Nominated Adviser and +44 (0)20 72200500 broker) Christopher Raggett and James Thompson FirstEnergy Capital (Financial Adviser +44 (0)20 7448 0200 and Joint Broker UK) Hugh Sanderson / David van Erp Buchanan Communications Limited +44 (0)20 7466 5000 Ben Romney 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 and downstream operations including an oil terminal project in Equatorial Guinea. 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: 09/06/2016 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.