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Operational update - Egypt

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05 Dec 2017

EFORA ENERGY LIMITED

(Formerly SacOil Holdings Limited)

(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

Share Code: EEL

ISIN: ZAE000248258

(“Efora” or “the Company”)

OPERATIONAL UPDATE – EGYPT

Completion of Pilot Well Lagia #14

Efora, the South African based independent oil and gas company, is pleased to provide the following update on its wholly owned and operated operations at the Lagia field in Egypt.

Further to the update provided on 29 November regarding the spudding of the Lagia #14 pilot well, Efora is pleased to announce that drilling operations on the well have successfully and safely concluded on time and on budget.

The well intersected 98 ft of Nukhul Zone 3, the main hydrocarbon bearing interval in the Lagia field. The well was logged and perforated by the 1st of December and is undergoing cleaning operations whilst the surface pipeline network is being hooked up for steam injection ahead of the well being placed on production later this month. The technical team will monitor the production data over the coming months to establish the optimum forward development strategy for the wider Lagia field.

Sponsor

PSG Capital Proprietary Limited

5 December 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.