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Operational and Trading Update

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31 May 2012

At the end of 2011, Total, the Block III operator, completed the acquisition and interpretation of a satellite imagery survey over the entire concession. The processing of the satellite imagery reaffirmed the exploration potential of the entire Block III and therefore it was decided to commit to an airborne geographical survey over the whole concession. In preparation for the exploration programme, environmental and social studies were also successfully completed.

For the 2012, a budget of US$30 million was approved by the joint venture, which would include the above mentioned acquisition of an airborne gravity magnetic survey over the entire block by Q3 2012, following which a 2D seismic survey will be designed and planned. The operator's current intention is to use a similar exploration approach to that of the immediately adjacent concession (the prolific Blocks I, 2 & 3 in the Ugandan territory of Lake Albert) which proved highly successful.

In Q1 2012, Total increased their equity interest by acquiring a further 6.66% interest in Block III from DIG Oil to give Total a new total effective 66.66% interest in Block III. SacOil`s effective interest of 12.5% and its entitlement to contingent cash bonuses of US$54 million and a carry on all exploration expenses up to final investment decision (when a development plan is approved) remain unchanged.