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Trading Update

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21 Nov 2012

In terms of paragraph 3.4(b) of the JSE Listings Requirements companies are required to publish a trading statement as soon as there is a reasonable degree of certainty that the financial results for the current reporting period will be at least 20% different from those of the prior corresponding period.

Given the nature of SacOil's business, which requires lump sum upfront capital investment, it is not unusual for there to be differences in the financial results from one period to another.