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Withdrawal of Cautionary Announcement

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21 Aug 2012

In compliance with the JSE Limited ("JSE") Listings Requirement 3.9 and with reference to various cautionary announcements, with the most recent thereof dated 9 July 2012 released on the Stock Exchange News Service of the JSE and on the Regulatory News Service of the London Stock Exchange, SacOil shareholders ("shareholders") are advised that the Company continues to look at specific potential transactions in the ordinary course of business.

However, in light of uncertainty regarding the date on which an acquisition could be completed the Board and management of SacOil feel it prudent to withdraw from discussions until the negotiating parties are in a position where decisions can be made decisively and rapidly.

Accordingly, shareholders are advised that caution is no longer required to be exercised when dealing in the Company's securities.