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Further Cautionary Announcement

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21 Feb 2012


(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”)

Further Cautionary Announcement

In compliance with JSE Limited ("JSE") Listings Requirement 3.9 and with reference to the further cautionary announcement published on Tuesday, 10 January 2012, on the Stock Exchange News Service of the JSE and on the Regulatory News Service of the London Stock Exchange, SacOil shareholders ("Shareholders") are advised that the Company is still in the process of considering various proposals and potential transactions, which if successfully concluded, may have a material effect on the price of SacOil ordinary shares ("Shares").

Accordingly, Shareholders are advised to continue to exercise caution when dealing in their Shares until a further announcement is made in this regard.

21 February 2012


JSE Sponsor

The Standard Bank of South Africa Limited

For further information, please contact:


AIM Nominated Adviser and Joint Broker

finnCap Limited

Matthew Robinson / Christopher Raggett

+44 (0)20 7220 0500

Joint Broker (United Kingdom)

Shore Capital Stockbrokers Ltd

Jerry Keen / Bidhi Bhoma

Tel: +44 (0) 20 7408 4090

Public Relations (South Africa)

The Riverbed Agency (SA)

Raphala Mogase / Bongiwe Moeli

Tel: +27 (0) 11 783 7903

Public Relations (United Kingdom)

Pelham Bell Pottinger (UK)

Philip Dennis/Nick Lambert/Rollo Critchton–Stuart

Tel: +44 (0)20 7861 3232

Additional information on SacOil can be found at