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Name change and Share Consolodation

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05 Oct 2017

SACOIL HOLDINGS LIMITED

Incorporated in the Republic of South Africa)

Registration number 1993/000460/06)

JSE Share Code: SCL

ISIN: ZAE000127460

(“SacOil” or “the Company”)

NAME CHANGE AND SHARE CONSOLIDATION

Shareholders are referred to the SENS announcement released on 3 October 2017 wherein the Company advised that the resolutions to approve the change of the name of the Company and a share consolidation were approved by the requisite number of shareholders at the Company’s Annual General Meeting.

Shareholders are hereby advised that the necessary documentation has been lodged with CIPC. Shareholders should take note of the dates set out below, which may change as they are subject to the confirmation of the filing of the relevant special resolutions with CIPC and the provision of copies thereof to the JSE. Any changes in dates will be announced on SENS.

Receive confirmation of registration by the CIPC of the special resolutions by this date or as soon as possible thereafter

Monday, 23 October

Release of finalisation announcement in respect of the Name Change and Share Consolidation on SENS by 11:00

Tuesday, 24 October

Last date to trade under the old name and in order to take part in the Share Consolidation

Tuesday 31 October

Expected termination date for Trading under the name of “SacOil Holdings Limited” and commencement of trading under the new name “Efora Energy Limited”, under share code EEl Short name Efora and ISIN ZAE000248258 and with the new capital structure following the Share Consolidation from the commencement of trade

Wednesday 1 November

Announcement of fraction rate to be released on SENS

Thursday, 2 November

Record date in respect of the Name Change and Share Consolidation

Friday, 3 November

Posting of share certificates in respect of Certificated SacOil Shares following the Name Change and Share Consolidation and update of Dematerialised shareholders accounts with their CSDP and Brokers

Monday, 6 November

Notes

(1) The above dates and times are subject to amendment. Any such amendment will be released on SENS.

(2) Share certificates in the old name may not be dematerialised or rematerialised from Wednesday, 1 November 2017.

JSE Sponsor

PSG Capital Proprietary Limited

5 October 2017

For further information please contact:

SacOil Holdings Limited

Damain Matroos

+27 (0)10 591 2260

Buchanan (Financial PR adviser)

Ben Romney / Chris Judd

+44 (0)20 7466 5000

Corporate Advisor to Belton Park

Gem Capital (Pty) Ltd

+27 (0)11 684 1701

ABOUT SACOIL

SacOil 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 a majority interest in AfricOil, the petroleum product wholesaler. 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. The Company continues to evaluate industry opportunities throughout Africa as it seeks to establish itself as a leading, full-cycle pan-African oil and gas company.