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Management Appointments and Further Cautionary

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10 Jan 2012

SacOil, the African independent upstream oil and gas Company, is pleased to announce the appointments of Willem de Meyer as Vice President - Commercial and Jordaan Fouchè as Vice President - Technical and New Business, effective today. The two senior appointments are part of SacOil's ongoing process to strengthen its core technical and operational team in order to further develop current projects and advance initiatives to secure new value accretive acreage in proven hydrocarbon basins across Africa.

Willem has over 25 years' experience in the upstream Exploration and Production ('E&P') business in Africa and will assist Bradley Cerff, the current Vice President - Opera ons, with the technical and opera onal development of SacOil's projects. Jordaan's understanding of the commercial aspects of the Oil and Gas ('O&G') business and established relationships developed over 25 years as an investor in oil and gas companies and assets will enable him to evaluate new accretive acreage and bolster SacOil's commercial initiatives into Africa.