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Name Change and Share Consolidation Update

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08 Nov 2017

EFORA ENERGY LIMITED

(Formerly SacOil Holdings Limited)

(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

JSE Share Code: EEL

ISIN:  ZAE000248258

(“Efora” or “the Company”)

NAME CHANGE AND SHARE CONSOLIDATION UPDATE

The Company is pleased to announce that it has formally commenced trading under the new name of Efora Energy Limited (“Efora”), with the share code EEL and ISIN ZAE000248258.

Efora also announces the commencement of a new capital structure following the Share Consolidation as voted for at the Annual General Meeting held on 2 October. The Consolidation is on the basis of 10 to 1 by the consolidation of every 10 Ordinary Shares into 1 Ordinary Share.

Commenting on the update, Efora’s CEO Dr Thabo Kgogo said:

“I am delighted to formally introduce Efora Energy to all our stakeholders.  The name change represents a symbolic and exciting new chapter in this Company’s story as we leverage the pancontinental footprint and diverse portfolio of assets that we have strategically pieced together over the past few years.  The name Efora, which stands for Energy for Africa, has been chosen as it aptly reflects our vision of playing a meaningful role in the positive socioeconomic development of the continent through the provision and distribution of essential fuel products.  Efora is a name that we hope will become synonymous in the industry with credible and safe operations, best practice Governance and long-term, sustainable value creation for our shareholders.”

JSE Sponsor

PSG Capital Proprietary Limited

8 November 2017

For further information please contact:

Efora Energy Limited

Damain Matroos

+27 (0)10 591 2260

Buchanan (Financial PR adviser)

Ben Romney / Chris Judd

+44 (0)20 7466 5000

About Efora

Efora Energy Limited is a South African based independent African oil and gas company, listed on the JSE. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo; midstream project relating to crude trading in Nigeria and material downstream distribution operations throughout Southern Africa. 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.