Edison Investment Research Update

Adverse reaction to announcement

Since 21 August, when SacOil withdrew its cautionary statement concerning a potential acquisition, the share price has fallen 30%, significantly underperforming its Nigeria-focused peer group. The underperformance presents an opportunity to examine the catalysts tha could reverse it in coming months.

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SacOil says survey in Block III, Congo completed

Completion of the survey takes Total E&P RDC a step closer to ascertaining the presence of oil or gas in the area SACOIL on Wednesday announced that Total E&P RDC, the energy multinational and operator of Block III, Albertine Graben, in the Democratic Republic of Congo, has successfully conducted an airborne gravity and magnetic survey on the northern part of the Block III area, outside the Virunga National Park.

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Update on Block III, Albertine Graben, DRC

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”) Update on Block III, Albertine Graben, DRC Successful completion of airborne gravity and magnetic survey SacOil announces that Total E&P RDC (“Total”), the Operator of Block III, Albertine…

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