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Trading Statement

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08 May 2017

SacOil Holdings Limited

(Incorporated in the Republic of South Africa)

(Registration number: 1993/000460/06)

JSE Share Code: SCL AIM TIDM: SAC

ISIN: ZAE000127460

(“SacOil” or “the Company”)

TRADING STATEMENT

In terms of the JSE Limited Listings Requirements, companies are required to provide guidance to the market when they are satisfied that a reasonable degree of certainty exists that the financial results for the current reporting period will differ by at least 20% from the results of the previous corresponding reporting period.

SacOil is currently finalising its results for the year ended 28 February 2017. In this regard, shareholders are advised that the Company expects earnings per share (“EPS”) and headline earnings per share (“HEPS”) for the year ended 28 February 2017 to be at least 20% lower relative to the prior comparative period.

There is currently insufficient certainty to enable the Company to provide specific guidance on the extent of the expected reduction in both HEPS and EPS and it is anticipated that SacOil will publish a more detailed trading statement in due course. 

The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s auditors.

8 May 2017

Contacts

SacOil Holdings Limited

Damain Matroos                            +27 (0)10 591 2260

JSE Sponsor:

PSG Capital Proprietary Limited

Nominated Adviser and Broker:

finnCap Ltd                              +44 (0)20 7220 0500

Christopher Raggett / James Thompson

Financial PR Adviser:

Buchanan                                 +44 (0)20 7466 5000

Ben Romney / Chris Judd

ABOUT SACOIL

SacOil is a South African based independent African oil and gas company, dual-listed on the JSE and AIM. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo, Malawi and Botswana; and midstream projects including crude trading in Nigeria and a terminal project in Equatorial Guinea.  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.