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Cautionary Announcement - Expression of Interest

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24 Feb 2014


(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”)


Shareholders are hereby advised that the Company has entered into an expression of interest (“EoI”) dated 19 February 2014 with The Instituto De Gestão Das Participações Do Estado, an entity that manages investment portfolios and shares on behalf of the Government of the Republic of Mozambique, and The Public Investment Corporation (SOC) Limited to investigate gas opportunities relating to the future distribution of gas in Southern Africa.

The purpose of the EoI is purely to govern the preliminary discussions, and formalise the relationship, between the parties.  These discussions are at a very early stage, with the intention of concluding a formal memorandum of understanding by the end of March 2014.

The above-mentioned may have a material effect on the price of SacOil’s shares and accordingly shareholders are advised to exercise caution when dealing in the Company’s shares until a further announcement is made.


24 February 2014

JSE Sponsor

Nedbank Capital

For further information please contact:


SacOil Holdings Limited

Roger Rees / 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 / Travis Inlow

+44 (0) 20 7448 0200


Pelham Bell Pottinger (UK)

Philip Dennis

Nick Lambert

Rollo Crichton-Stuart


+44 (0) 20 7861 3919

+44 (0) 20 7861 3936

+44 (0) 20 7861 3918