Appointment of Non-Executive Directors 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" or "the Group") APPOINTMENT OF NON-EXECUTIVE DIRECTORS Further to the announcement of 22 March 2017, SacOil are pleased to announce that the Board has confirmed the appointments of Ms Thuto Masasa, Mr Patrick Mngconkola and Mr Boas Seruwe as Non-Executive Directors with immediate effect following the completion of satisfactory due diligence as required by the AIM Rules for Companies. The following information is disclosed under Schedule 2(g) of the AIM Rules for Companies: Ms Thuto Margaret Masasa, aged 37, does not currently hold any ordinary shares in the Company. Current directorships and/or Former directorships partnerships: and/or partnerships (within the last 5 years): Nkonki Incorporated Stratvest Explorer 1 Nkonki Corporate Finance Stratvest Explorer 2 Incorporated Stratvest Explorer 3 Nkonki Praxley Corporate Finance Incorporated StratCorp Mpumalanga Economic Growth Agency StratCorp Property Holdings Londvolota Trust Beyond The Lemonade Stand Wheelsonus K2015052963 (SOUTH AFRICA) Eliowell Mathews College Mr Sebenzile Patrick Mngconkola, aged 54, does not currently hold any ordinary shares in the Company. Current directorships and/or Former directorships partnerships: and/or partnerships (within the last 5 years): Public Investments Corporation Government Employees Pension (SOC) Limited Fund of South Africa V And A Waterfront Holdings Pty Ltd Victoria And Alfred Waterfront Holdings Pty Ltd Growthpoint Properties Limited Harith General Partners (Pty) Ltd Luminox Pty Mr Take Boas Seruwe, aged 51, does not currently hold any ordinary shares in the Company. Current directorships and/or Former directorships partnerships: and/or partnerships (within the last 5 years): Bakubung Business Supplies (Pty) Unemployment Insurance Fund Ltd Bophelo Insurance Group (Pty) Ltd Nzalo Insurance Services Limited Daybreak Farms (Pty) Ltd Bakubung Distribution (Pty) Ltd Phaphamani Advertising Agency (Pty) Ltd Save as disclosed above there are no additional disclosures to be made in accordance with Rule 17 or Schedule Two paragraph (g) of the AIM rules regarding Ms Thuto Masasa, Mr Patrick Mngconkola and Mr Boas Seruwe. JSE Sponsor PSG Capital Proprietary Limited For further information please contact: SacOil Holdings Limited Damain Matroos +27 (0)10 591 2260 finnCap Limited (Nominated adviser and broker) Christopher Raggett and James Thompson +44 (0) 20 7220 0500 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, 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 projects including crude trading in Nigeria and a terminal project in Equatorial Guinea. 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: 18/04/2017 11:00:00 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.