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Disclosure of Disposal of Securities

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24 Oct 2012

In accordance with the Johannesburg Stock Exchange ("JSE") Limited Listings Requirements and Section 122(1) of the Companies Act, No 71 of 2008, shareholders are advised that Peregrine Equities (Pty) Ltd ("Peregrine Equities") has notified SacOil that it has disposed of a beneficial interest in securities of the Company, such that the total beneficial interest of SacOil securities held by Peregrine Equities is now 4.59% of the total issued SacOil securities.

As required in terms of section 122(3)(a) of the Companies Act, SacOil has filed the required notice with the Takeover Regulation Pan