SacOil Holdings Limited

BUILDING AN AFRICAN INDEPENDENT UPSTREAM OIL &

GAS COMPANY

November 2012

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Disclaimer

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Forward-looking statements in this Document reflect the Company’s view with respect to future events as at the date hereof and are subject to known and unknown risks, uncertainties and

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Corporate Overview

Ability to operate through the exploration

phase, but will focus on the establishment

of strategic partnerships to manage

portfolio risk and ensure that the

optimum technical and operating skills are

applied to each opportunity .

A dual listed JSE & AIM company.

Remit is to build an African independent

upstream oil and gas business with a

balanced portfolio of assets in Africa.

Experienced Board and Management

team with expertise in African oil & gas

exploration.

Interests and prospective interests

include development of low risk

discoveries.

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Assets and opportunities in proven

hydrocarbon basins, across the E&P

spectrum.

SacOil Holdings Ltd (AIM: SAC, JSE: SCL)

Ordinary Shares in Issue 918,268,379

Market Capitalisation - ZAR 330.58 million

Market Capitalisation – GBP 21.27 million

52 Week High-Low, 0.70 - 0.26

30 Day Average Volume 3,883,928

Top 4 Shareholders (as at 26 Oct 2012) 55% of ordinary

shares

Strategy To adding value

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� Build an African Footprint with a

balanced portfolio of assets.

� SacOil will seek to grow through

acquisitions, farm-ins and license

rounds in a focused Consolidation

play manner.

� Explore early stage opportunities in

Africa with low entry costs.

� Seek partnerships with major oil and

gas companies with extensive

experience in Africa.

� Leveraging our ability to execute asset

transactions to develop assets on

favourable terms.

� Target discovered but undeveloped

near-term producing assets.

� Africa is highly prospective for hydrocarbon systems and is

underexplored

� This provides significant “high impact” exploration growth

opportunities and the ability to add incremental value to

shareholders

Buildan African footprint with a balanced portfolio of

assets

SacOil Strategy

Targetdiscovered but undeveloped/near-term producing

assets

Exploreearly stage opportunities in Africa with low entry

costs

Seekpartnerships with major oil & gas companies with

extensive experience in Africa

� SacOil is the only JSE listed, independent upstream oil and gas

company

� SA DNA: Well positioned to become an African based African

independent upstream oil & gas company

� Current portfolio includes assets in the DRC and Nigeria

� SacOil will seek to grow through acquisitions, farm-ins and

license rounds

� The retreat of the Majors from discovered but undeveloped

marginal oil fields in Africa provides significant opportunities

� Near term producing assets financially and operationally de-

risks the company

� Provides an opportunity to monetize assets

� Enables us to leverage the value curve by bringing

undervalued assets into account

� Our unique position as an African oil and gas company allows

us a competitive advantage at the point of entry

� We are able to utilize expertise, through our highly

experienced board and unique relationships, to acquire

underexplored African assets

� Leveraging our ability to execute asset transactions to develop

assets on favourable terms

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Offers Strong Growth in Shareholder Value

Build

Explore

Seek

Target

Strategy and Focus

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Cum

ula

tive

‘Valu

e’

Time - Upstream Investment

Early Stage

Growth Stage

Mature Stage

OPL 233

OPL 281

Block III

SacOil

Focus• Appraisal and development acreage.• Discovered and undeveloped assets.• Onshore North and West Africa.• Mitigation of risks.

• Acquire early stage exploration acreage.• East Africa and African rift basins • Partner indigenous companies.• Mitigation of risks.• Execution of work program.• Farm down to JV partners.

• Production acreage.• On and offshore North and West Africa.• Small producing assets.

AFRICA: Rift basin potential and prospectivity

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� Africa as a continent has experienced various

episodes of rifting.

� East African Rift system is the largest

continental rift system on Earth.

� These episodes gave rise to prolific oil

discoveries in Sudan, Chad, Kenya and Uganda.

� Potential that these rifts exist elsewhere on the

African continent.

� SacOil focussed on identifying and evaluating

rift plays and basins on the African continent.

Location

� Licence area: 3,177 square km.

� Located on the DRC side of the Albertine Graben

Basin, part of the East African Rift System.

� Block within proven petroleum system, on trend

with major Ugandan oil fields.

� Existing oil/gas discoveries within 10 km of block

boundary.

PSC Term and Work Program

� Total RDC - Operator (66.66%) and operator of Block

3 Uganda.

� SacOil (12.5%)

� Firm Exploration Program

� Acquisition 500km of 2D seismic.

� Drilling of the 2 exploration wells.

� Minimum Phase 1 Expenditure commitment

US$ 70 Million.

Block III, DRC: Overview & Location

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Source: Bayphase Limited: Competent Person’s Report dated February 2012

Block III, DRC:Operational Plan

2011

� Environmental studies completed

2012

� Total increased equity in the block to 66.66%.

� Completed acquisition and interpretation of

Aero Gravity Aeromag survey over the northern

part of the block.

� Tender for 2D Seismic acquisition issued.

� 508 km of 2D seismic lines to be acquired.

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Nigerian Assets Under Acquisition :Overview

OPL 281

OPL 233

� OPL 233 and OPL 281 are under acquisition and will result in SacOil holding a 20%

interest in both blocks

� Both OPL’s have potential for rapid monetization and are in the vicinity of abundant

infrastructure

� Production revenue from EWT will accrue to the JV partners, gross of PSC Royalty and

Taxes

� No relinquishment required on conversion from OPL to OML10

Proximity and location of OPL 233 and OPL 281 in relation to the prolific Niger delta

Source : IHS 2011, SacOil

Distance

Warri 20 km

Port Harcourt 163 km

Communities Obotebe Kingdom

Forcados Crude Export Terminal 25km

Odidi Platform (Gas / Condensate processing) 22 km

Forcados facility 25 km

Wells drilled 1967 /1970

OPL 281:Location

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Source: Energy Equity Resources

Source: Energy Equity Resources; 2012

Source: Energy Equity Resources; 2012

� New PSC - five year Exploration Period divided

into two separate phases.

� Transcorp 60% (Operator) , SacOil 20%, EER 20%.

� Minimum Commitments

- Reprocessing of existing 3D data over the block

- Drilling of two wells.

� Two discoveries on block, certified Contingent

resources.

� 126 sq. km block.

� Water depth of less than 30 ft.

� 103 ft. of net oil pay discovered in

Olobia-1, certified Contingent

resources.

� Significant exploration upside

potential.

� Adjacent to Apoi field (600 MMbbl)

OML141

Giant Apoi field

(>600MMBO)

adjacent to block

OPL 233: Location

OPL 233 located in very shallow water

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1Source: Energy Equity Resources and SacOil; 2012

OPL 233: Work Program

� Completed interpretation of existing 2D

seismic and well data.

� Log analysis interpreted to be oil bearing.

� Completed modelling and planning of the 3D

OBC seismic survey.

� In the process of finalising 3D OBC contractor

assessments and engagements.

Source: SacOil ; 2012

Source: WesternGeco and EER; 2012

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AFRICA: Current leads being evaluated

� Focus remains on optimisation of current assets, but SacOil continues to evaluate and seek further upstream assets on the African continent

� We are mindful of political risk but believe that our identity/background enables us to judge the risk and mitigate it

� SacOil considers both oil and gas opportunities

� SacOil prefers to be a non-operator but would consider operatorship at the early stages of exploration

� SacOil continues to endeavour to balance the portfolio between Exploration and Production

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� Tunisia� Egypt� Ghana� Ivory Coast� Cameroon� South Africa� Malawi� DRC� Nigeria

Asset Summary

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* SacOil carried by Total up to FID - Includes contingent success bonuses from Total of $54 mill

Limits of CPR Volumetrics:

Asset values based on CPR Volumetrics and Costs

Country BlockUnrisked Gross

Resources

Chance of

Commercial

Success

Risked Gross

ResourcesSacOil Interest

Risked Net

Resources

Estimated After

Tax NPV Best

Case

Rec MMboe MMboe MMboe $/boe

DRC Block IIIBest: 640

High: 1,25020%

Best: 130

High: 25012.50%

Best: 16

High:317.5

Nigeria OPL 2812C Best: 99.2

3C High: 145.260%

2C Best: 59.5

3C High: 87.120%

2C Best: 11.9

3C High: 17.43.8

Nigeria OPL 2332C Best: 19.0

3C High: 26.140%

2C Best: 7.6

3C High: 10.420%

2C Best: 1.5

3C High: 2.15.8

OPL 233 OPL 281

Schedule of Activities

� Dual listed Africa independent upstream Oil & Gas company – effectively structured to

take advantage of opportunities.

� South African company with an African focus.

� Current asset base in DRC and assets under acquisition in Nigeria.

� Model for growth – partner indigenous companies by providing resources and

transferring skills.

� Small but experienced commercial and technical team.

� Supported by South African institutional investors - African ownership of Sovereign

African Assets.

� Building and developing a balanced African portfolio.

Conclusion

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