SAC Sacoil

TIDMSAC

RNS Number : 2475P

SacOil Holdings Limited

17 February 2016

SACOIL HOLDINGS LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

   JSE Share Code: SCL     AIM Share Code: SAC 

ISIN: ZAE000127460

("SacOil" or "the Company")

Commencement of 2D SEISMIC Data ACQUISITION, block iii, Albertine Graben, Democratic republic of Congo

With the granting of a two-year extension to current exploration period of Block III by the Minister of Hydrocarbons of the Democratic Republic of Congo ("DRC"), Total E&P RDC ("Total") as operator of Block III, has commenced with the acquisition of a 2D seismic survey.

As reported previously, the current survey design envisages the acquisition of 300 km of 2D seismic data over the northern part of the Block III area. The survey will not encroach on the Virunga National Park.

This seismic acquisition program is in fulfilment of the work program obligations.

SacOil holds a 12.5% effective interest in Block III.

Johannesburg

17 February 2016

JSE Sponsor

PSG Capital Proprietary Limited

For further information please contact:

   SacOil Holdings Limited                   +27 (0) 10 591 2260 

Bradley Cerff

   finnCap Limited (Nominated Adviser and   +44 (0) 20 72200 500 

broker)

Christopher Raggett and James Thompson

   FirstEnergy Capital (Financial Adviser        +44 (0) 20 74480 200 

and Joint Broker UK)

Hugh Sanderson / David van Erp

   Buchanan Communications Limited           +44 (0) 20 7466 5000 

Ben Romney

This information is provided by RNS

The company news service from the London Stock Exchange

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February 17, 2016 02:00 ET (07:00 GMT)

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