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Sasol announces modest hedging in respect of its exposure to the oil price
Sasol Limited
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
(ISIN: ZAE000006896)
JSE Share codes: SOL
NYSE - SSL
("Sasol")
Sasol announces modest hedging in respect of its exposure to the oil price
On 8 March 2004, at the release of Sasol"s interim results for the six months to
31 December 2003, our Chief Executive announced that Sasol was considering the
potential for modest hedging in respect of its exposure to the oil price in
order to improve the stability of cash flows. An analysis of this potential
hedging strategy has been completed and, given the opportunity to hedge an
element of Sasol Synfuels" income at the current relatively high oil prices, the
decision was taken to proceed. An amount of 30,000 barrels a day (equivalent to
approximately 20% of Synfuels" production) for financial year 2004/05 has
therefore been sold forward at a weighted average price of US$31.85. Appropriate
disclosure of this hedging will also be made in our 2004 annual report and Form
20-F.
Johannesburg
7 May 2004
Disclaimer - Sasol Limited We may in this document make statements that are not
historical facts and relate to analyses and other information based on forecasts
of future results and estimates of amounts not yet determinable. These are
forward-looking statements as defined in the U.S. Private Securities Litigation
Reform Act of 1995. Words such as "believe", "anticipate", "expect", "intend",
"seek", "will", "plan", "could", "may", "endeavor" 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 predictions, forecasts,
projections and other forward-looking statements will not be achieved. If one
or more of these risks materialize, 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 the plans,
objectives, expectations, estimates and intentions expressed in such forward-
looking statements are discussed more fully in our annual report under the
Securities Exchange Act of 1934 on Form 20-F filed on October 27, 2003 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
we do not undertake any obligation to update or revise any of them, whether as a
result of new information, future events or otherwise.
Date: 07/05/2004 03:23:34 PM Produced by the JSE SENS Department
