Sacoil : Renewal of cautionary announcement

SacOil Holdings Limited

Incorporated in the Republic of South Africa)

Registration number: 1993/000460/06)

JSE Share Code: SCL

ISIN: ZAE000127460

RENEWAL OF CAUTIONARY ANNOUNCEMENT

Further to the cautionary announcement issued on 27 July 2017, SacOil's shareholders ('Shareholders') are advised that the Company remains in advanced negotiations on an exclusive basis to acquire a South African fuels wholesaler (the 'Proposed Acquisition'), that sells fuel products, namely diesel, petrol and paraffin, on a bulk basis to its customers operating within industrial markets.

Accordingly, Shareholders are advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made in this regard.

7 September 2017

Sponsor

PSG Capital Proprietary Limited

For further information please contact:

SacOil Holdings Limited

Damain Matroos

[phone]

Buchanan (Financial PR adviser)

Ben Romney / Chris Judd

[phone]

ABOUT SACOIL

SacOil is a South African based independent African oil and gas company, listed on the JSE. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo; midstream project relating to crude trading in Nigeria and a majority interest in Afric Oil, the petroleum product wholesaler. Our focus as a Group is on delivering energy for the African continent by using Africa's own resources to meet the significant growth in demand expected over the next decade. The Company continues to evaluate industry opportunities throughout Africa as it seeks to establish itself as a leading, full-cycle pan-African oil and gas company.