Media BriefBR Cerff

July 2011

THIS DOCUMENT (“DOCUMENT”) IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION. THE DISTR IBUTION OF THIS DOCUMENT MAY BERESTRICTED BY LAW. ACCORDINGLY, THIS DOCUMENT MAY NOT BE DIS TRIBUTED IN ANY JURISDICTION EXCEPT IN ACCORDANCE WITH THE L EGAL REQUIREMENTS APPLICABLE TOSUCH JURISDICTION. IN PARTICULAR, YOU MAY NOT DISTRIBUTE, F ORWARD, REPRODUCE, TRANSMIT OR OTHERWISE MAKE AVAILABLE TH IS DOCUMENT OR DISCLOSE ANYINFORMATION CONTAINED IN IT OR CONVEYED DURING ANY ACCOMPAN YING ORAL PRESENTATION (THE “INFORMATION”) , IN WHOLE OR IN P ART, DIRECTLY OR INDIRECTLY, IN THEUNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR IN ANY OTHER JU RISDICTION WHERE TO DO SO WOULD BE UNLAWFUL. FAILURE TO COMPL Y WITH THESE RESTRICTIONS MAYCONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS. PERS ONS INTO WHOSE POSSESSION THIS DOCUMENT COMES ARE REQUIRED BY THE COMPANY TO INFORMTHEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS. NEIT HER SACOIL HOLDGINS LIMITED (“THE COMPANY”) NOR ITS DIRECTO RS, OFFICERS, EMPLOYEES, RESPECTIVEAFFILIATES, AGENTS OR ADVISERS ACCEPT ANY LIABILITY TO ANY P ERSON IN RELATION TO THE DISTRIBUTION OR POSSESSION OF THIS D OCUMENT IN OR FROM ANY JURISDICTION.

The Document and the Information have been prepared by or on behalf of, and is the sole responsibility of, the Company. The Information is being provided to you during an oral presentation and is not acomplete record of that discussion. The Information does not purport to be full or complete and does not constitute investment advice. No representation or warranty, express or implied, is given by or onbehalf of the Company, its affiliates, agents or advisers or any other person as to, and no reliance may be placed for any purposes whatsoever on, the adequacy, accuracy, completeness, fairness orreasonableness of the Information. None of the Information has been independently verified by the Company, its affiliates, agents or advisers or any other person, and no liability or responsibility whatsoeveris accepted by any of them for any loss howsoever arising, directly or indirectly, from any use of the Information or otherwise arising in connection therewith. The Company, its affiliates, agents and advisersdo not undertake and are not under any duty to update this Document or to correct any inaccuracies in the Information which may become apparent, or to provide you with any additional information.

The sole purpose of this Document is to provide background information to assist you in obtaining a general understanding of the business of the Company. This Document does not constitute an offer tosell, or a solicitation of an offer to buy or subscribe for, securities of the Company in any jurisdiction. It is not intended to provide the basis of any investment decision, financing or any other evaluation and isnot to be considered as a recommendation by the Company, its affiliates, agents or advisers that any recipient of this Document purchase or subscribe for any securities in the Company. Each recipient ofthis Document contemplating any investment in the Company is required to make and will be deemed to have made its own independent investigation and appraisal of the business, results of operations,financial condition, liquidity, performance and prospects of the Company and the merits and risks of an investment in the securities of the Company. The delivery of this Document at any time does not implythat the information in it is correct as of any time after its date, or that there has been no change in the business, results of operations, financial condition, liquidity, performance and prospects of theCompany since that date and no obligations is accepted to update any such information after the date of the Document. No person affiliated with the Company, their directors, officers, employees, respectiveaffiliates, agents or advisers has been authorised to give any information or to make any representation not contained in this Document and, if given or made, such information or representation must not berelied upon.

The securities of the Company have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act") and may not be offered, sold, transferred or delivered,directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

In the United Kingdom, this document is directed solely at persons having professional experience in matters relating to investments and who are investment professionals as specified in Article 19(5) of theFinancial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotions Order"), to persons who are high net worth companies, unincorporated associations or high valuetrusts as specified in Article 49(2) of the Financial Promotion Order (all such persons together being referred to as "relevant persons"). In addition to the foregoing restrictions, this document is made anddirected only at persons falling within the meaning of "qualified investors" as defined in section 86 of the Financial Services and Markets Act 2000 (as amended).

This Document may contain forward-looking statements, including, but not limited to, statements as to the Company’s business, results of operations, financial condition, liquidity, performance and prospectsand trends and developments in the markets in which the Company operates. Forward-looking statements include all statements other than statements of historical fact and in some cases may be identifiedby terms such as “targets”, “believes”, “expects”, “anticipates”, “estimates”, “aims”, “intends”, “will”, “may”, “would”, “could” or, in each case, their negative or comparable terms. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. A number of factors, which may be beyond the control of the Company, itsaffiliates, agents and advisers, could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements in thisDocument 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 assumptions relating to the Company’s operations,results of operations, financial condition, growth, strategy, liquidity and the markets in which the Company operates. No assurances can be given that the forward-looking statements in this Document will berealised. Forward-looking statements are not guarantees of future performance. The Company, its affiliates, agents and advisers undertake no obligation and do not intend to update any forward-lookingstatements in this presentation to reflect events or circumstances after the date of this presentation.

Disclaimer

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SacOil – African Oil & Gas Company

� SacOil intend to initially develop all their deposits in consortiums with global major oil & gas companies with extensive experience in Africa.

� SacOil Holdings is a dual listed (JSE & AIM) company whose remit is to build a African upstream oil and gas business with a portfolio of assets in Africa.

� SacOil has a highly experienced board with significant experience in oil & gas exploration and development as well as in project management and finance.

� SacOil focuses and invests in oil and gas opportunities with primary focus on building a balanced portfolio of assets.

� SacOil’s interests and prospective interests include assets in Nigeria and DRC and manganese plant in South Africa.

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Region Description

� Part of the East African Rift System (Western Branch)and a young exploration province: modern eraexploration started in 1999

� 800MMbbls of recoverable oil resources discovered todate

Large fields:

� Kingfisher - 200MMbbl

� Giraffe-Buffalo (Jobi-Rii) – 300MMbbl

� Total resource base estimated at 2bn bbl

DRC side

� DRC side unexplored but proximity to recentdiscoveries in Uganda indicates the block is highlyprospective

� Source kitchen for the Lake Albert discoveries isbelieved by many to be located beneath the deepestparts of Lake Albert, mainly on the DRC side of theborder

East African Rift - Block III

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Turaco

Kingfisher

Nzizi

Mputa

Waraga

NgassaTaitai

Karuka

Nsoga Ngara

Ngege

Kigogole

Wahrindi

Kasamene

Warthog

GiraffeBuffalo

Victoria Nile Delta Play

Escarpment/Near-shore Play

Oil discovery

Gas discovery

Prospect

Lead

Source: Bayphase Limited: Block III presentation on Block III, Albertine Graben, DRC dated 14 September 2010

Assets - Block III, DRC

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� Reconnaissance survey Q1 - 2011

� Gravity Mag survey August 2011

� 2D Seismic Survey Q2 – 2012

� 2 Wells to be drilled back to back

EstimateUnrisked Gross STOIIP(million stock tank barrels)

Unrisked Gross GIIP (associated gas) (million

standard cubic feet)

Low Estimate - P90 767.49 230.247

Best Estimate - P50 1518.47 455.541

High Estimate - P10 2828.04 842.412

SacOil Nigeria Assets

OPL 281

OPL 233

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

Assets – OPL 281, Nigeria

� Discovery wells Obote-1 drilled in 1970 and Ekoro-1 drilled in 1967.

� TRACS CPR – Contingent resources of 100 MMBOE.

� 3D Seismic data good quality.

� Good 3D seismic reservoir imaging.

SacOil Nigeria Assets

OPL 281

OPL 233

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

Assets – OPL 233, Nigeria

� Well log evaluation indicates 124 ft of net oil and 90 ft of gas and condensate in the Olobia-1 well.

� TRACS CPR – Contingent producible oil resources 12.9 to 26.1 MMbbls

� Significant upside > 200 MMbbls

Conceptual Production Profiles - SacOil

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OPL 233 OPL 281 Block III

OPL 233� 1 Appraisal well� 2 Production wells� 8,600 boe/d� 1,700 boe/d

OPL 281� 1 Appraisal well� 6 Production wells� 30,000 boe/d� 6,000 boe/d

Block III� 2 Exploration wells� 3 Appraisal wells� 7 Production wells� 22,000 boe/d� 2,800 boe/d

Project Economics - Summary

Block Country Equity

(%)

CoS

(%)

Unrisked

Gross

Reserves

(Million boe)

Risked Gross

Reserves

(Million boe)

Risked Net

Reserves

(Million boe)

NPV Net

SacOil

(Million)

NPV/boe

($ / boe)

OPL 233 Nigeria 20 40 19 7.6 1.52 87.1 57.3

OPL 281 Nigeria 20 60 99.2 59.52 11.9 160.5 13.48

Block III DRC 12.5 11.5 511.6 107.44 13.43 128.9 17.53

*CoS-Chance of Success, represents the likelihood of discovering hydrocarbons in commercial quantities **boe- barrel of oil equivalent

Focus Countries

Reviewed Leads and opportunities in the following countries:-

� RSA, Egypt, Tunisia, DRC, Gabon, Ghana, Cameroon, Cote d’Ivoire, Malawi and Nigeria.

Thank you

www. sacoilholdings.com

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