Sasol Announces the Completion of the Second Acquisition of a 50% Participation Interest in the Montney Gas Basin in Canada

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Jun 10, 2011, 08:28 ET

JOHANNESBURG, June 10, 2011 /PRNewswire/ --Shareholders of Sasol (JSE: SOL; NYSE: SSL) are referred to the SENS announcement released on 8 March 2011 regarding the acquisition by Sasol of a 50% interest in the high quality Cypress A Assets from Talisman Energy Inc. for a total purchase consideration of CAD$1 050 million (ZAR7 413 million at the closing CAD/ZAR exchange rate of 7,06 on 7 March 2011)(the "Transaction").

The Transaction was subject to various suspensive conditions referred to in the announcement released on SENS on 8 March 2011. Sasol shareholders are advised that all the suspensive conditions to the Transaction have been fulfilled and that the Transaction closed on 10 June 2011 ("the closing date").

The final aggregate consideration amounts to CAD$1 034 million (ZAR7 162 million at the closing CAD/ZAR exchange rate of 6,93 on 9 June 2011) and comprises an initial purchase price for the Cypress A Assets of CAD$246 million (ZAR1 704 million), which was paid in cash on the closing date, and CAD$788 million (ZAR5 458 million) in the form of a commitment to fund 75% of Talisman's 50% portion of certain future development costs to further develop both the Farrell Creek and Cypress A Assets in terms of a joint development plan until such time that the aggregate purchase consideration has been paid in full.

Sasol Investor Relations
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Forward-looking statement - Disclaimer:

The estimates of contingent resources contained in this announcement are based on definitions provided by the Society of Petroleum Engineers. Contingent resources do not constitute, and should not be confused with, reserves. Contingent resources are defined as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from a known accumulation by application of development projects, but which are not currently considered to be commercially recoverable due to one or more contingencies. There is therefore uncertainty as to the portion of the volumes identified as contingent resources that will be commercially producible. Sasol may, in this announcement, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, developments and business strategies. Examples of such forward-looking statements include, but are not limited to, statements regarding exchange rate fluctuations, volume growth, increases in market share, total shareholder return, resource volumes and values and cost reductions. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavour" and "project" and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. Some of these factors are discussed more fully in our most recent annual report under the Securities Exchange Act of 1934 on Form 20-F filed on 28 September 2010 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events.

Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. Morgan Stanley & Co and its affiliates are acting as independent financial advisor to Sasol Limited and no one else in connection with the transaction and will not be responsible to anyone other than Sasol Limited for providing the protections afforded to the clients of Morgan Stanley & Co nor for providing advice in relation to the transaction, the contents of this announcement or any other matter referred to herein. Date: 10/06/2011 13:45:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

SOURCE Sasol Limited