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Termination of proposed acquisition

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02 Jan 2018


(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”)


Shareholders are referred to the announcements released by Efora on SENS on 2 October 2017 and 5 October 2017 wherein the Company announced the proposed acquisition of the assets and operations as well as the assumption of the liabilities of Belton Park Trading 134 Proprietary Limited for an aggregate purchase consideration of R220 million subject to the fulfilment of outstanding conditions precedent (“the Acquisition”).

Shareholders are hereby advised that certain outstanding conditions precedent to the Acquisition were not fulfilled. Accordingly, the Acquisition agreement has lapsed.

PSG Capital Proprietary Limited
2 January 2018

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.