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SOL
SOL
SOL - Sasol Limited - Sasol hedges 45 000 barrels per day of its South African
synthetics fuels production
Sasol Limited
(Incorporated in South Africa)
(Registration number: 1979/003231/06)
ISIN Code: ZAE000006896
Share Code: SOL
NYSE Code: SSL
("Sasol")
Sasol hedges 45 000 barrels per day of its South African synthetics fuels
production
Sasol today, is pleased to announce that it has entered into hedging
transactions (zero cost collars) for 45 000 barrels of oil per day (equivalent
to approximately 30% of its South African synfuels production) for its 2008
financial year, which commences 1 July 2007. In terms of this hedge, Sasol has
achieved an average floor price of USD62,40 per barrel (based on monthly average
dated Brent crude oil prices) on the hedged portion of production, and
conversely Sasol will forego the upside on the hedged volumes, should the
monthly average dated Brent price exceed USD76,80 per barrel.
The zero cost collar structure is similar to the oil price hedging concluded for
the 2007 financial year, when a floor price of USD63,00 per barrel was achieved
and upside was limited to USD83,60 per barrel, also on 45 000 barrels of oil per
day. Appropriate disclosure of this hedging will also be made in our 2007 annual
report and Form 20-F.
Forward-looking statements: In this announcement we make certain statements that
are not historical facts and relate to analyses and other information based on
forecasts of future results not yet determinable, relating, amongst other
things, to exchange rate fluctuations, volume growth, increases in market share,
total shareholder return and cost reductions. These are forward-looking
statements as defined in the United States Private Securities Litigation Reform
Act of 1995. Words such as "believe", "anticipate", "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. Forward-looking statements involve
inherent risks and uncertainties and, if one or more of these risks materialise,
or should underlying assumptions prove incorrect, actual results may be very
different from those anticipated. The factors that could cause our actual
results to differ materially from such forward-looking statements are discussed
more fully in our most recent annual report under the Securities Exchange Act of
1934 on Form 20-F filed on 2 November 2006 and in other filings with the United
States Securities and Exchange Commission. Forward-looking statements apply only
as of the date on which they are made, and Sasol does not undertake any
obligation to update or revise any of them, whether as a result of new
information, future events or otherwise.
3 May 2007
Johannesburg
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 03/05/2007 09:00:09 Produced by the JSE SENS Department. |
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