SacOil Holdings Limited provided financial guidance for the six months ended August 31, 2013. The company expects basic earnings per share and headline earnings per share for the six months ended 31 August 2013 to be between 2.51 cents and 3.01 cents per share compared to a reported basic loss per share and headline loss per share of 1.64 cents and 2.63 cents respectively for the six months ended 31 August 2012.
 
The company restated financial results for the six months ended August 31, 2012. In the prior financial period the Group capitalised costs incurred in the execution of the work program for Block III, and paid by Total RDC (Total) on behalf of Semliki Energy SPRL, a subsidiary within the Group, in terms of a cost carry arrangement under the farm-in agreement for Block III.  The capitalisation of these costs increased the Block III exploration and evaluation asset resulting in a corresponding increase in liabilities representing the amounts owed to Total.  Consequently, the Group recognised a deferred tax asset relating to the future tax benefits available to Semliki as a result of the carried costs.  In order to align its accounting practices with IAS 37 - Provisions, Contingent Liabilities and Contingent Assets and with the accounting practice of comparable companies in the industry, the Group decided during the 2013 financial year not to capitalise these costs.  Comparative figures have been restated to reflect the change in accounting policy.  The previously reported comprehensive loss attributable to SacOil of ZAR 12.6 million has therefore been adjusted and restated to a comprehensive loss attributable to SacOil of ZAR 12.5 million for the six months ended 31 August 2012.  This has resulted in the minor restatement of the basic loss per share and the headline loss per share to 1.62 cents and 2.60 cents, respectively for the six months ended 31 August 2012.