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From: bcjt	10/20/2009 1:10:34 PM
	of 17

Africa Oil appoints Benitz to board 2009-10-01 10:53 MT - News Release Mr. Rick Schmitt reports AFRICA OIL APPOINTS BRYAN BENITZ TO BOARD OF DIRECTORS Africa Oil Corp. has appointed Bryan Benitz to the board of directors. Mr. Benitz brings over 40 years of financial markets expertise and investment banking experience to the company. He graduated from Fettes College in Edinburgh, Scotland, in 1951 and received his early investment banking training at Wisener & Company in Canada. As a result of mergers in the early 1970s Walwyn Stodgell Cochran Murray was created, a large investment banking firm headquartered in Toronto. Mr. Benitz, as director, was the member seat holder of both the New York and Toronto stock exchanges and held responsibility for the international business of the firm. In 1982 he returned to England with Walwyn Stodgell and created Benitz and Partners in 1988. The firm specialized in corporate finance, raising risk capital for natural resource companies. Throughout his career Mr. Benitz has been closely linked with the petroleum industry, particularly in Canada. Most recently, he was a senior board member of Tanganyika Oil, which was the subject of a highly successful $2.1-billion takeover by Sinopec. He is currently a director and chairman of MagIndustries Corp. The company also announces that it has granted a total of 100,000 incentive stock options to a director of the company. The options are exercisable, subject to vesting provisions, over a period of three years at a price of $1.00 per share.

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From: bcjt	11/16/2010 9:50:04 PM
	of 17

Africa Oil Corp (C:AOI) Shares Issued 99,700,307 Last Close 11/15/2010 $2.03 Tuesday November 16 2010 - News Release Mr. Keith Hill reports AFRICA OIL PROVIDES UPDATE OF COURT PROCEEDINGS Africa Oil Corp. has provided an update on the application for a judicial review of the administrative process that resulted in the issuance of exploration permits for, amongst others, blocks 10BB, 12A and 13T (see also the company's news in Stockwatch Oct. 28, 2010). The application was made by Interstate Petroleum Ltd. against the permanent secretary, Ministry for Energy in Kenya, and included the company as an interested party. The High Court in Kitale, Kenya, heard the submissions of the parties on Nov. 16, 2010, and will issue a final ruling on the case on Dec. 16, 2010. In the interim, the stay order that had initially been imposed on operations under the exploration permits was lifted. Keith Hill, the company's president, stated, "We are advised that the court proceedings went very well. We had requested an early resolution of the matter and are extremely optimistic that the Dec. 16 ruling will dismiss Interstate's application." ? 2010 Canjex Publishing Ltd.

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To: Spiney who wrote (4)	12/30/2010 9:40:30 AM
From: bcjt	of 17

Africa Oil exercises warrants, receives $55.8-million Africa Oil Corp (C:AOI) Shares Issued 119,931,226 Last Close 12/29/2010 $1.98 Thursday December 30 2010 - News Release Mr. Keith Hill reports AFRICA OIL: ACCELERATED WARRANT EXERCISE COMPLETED As of the expiry date of Dec. 23, 2010, 99.5 per cent of the company's share purchase warrants that were issued pursuant to a private placement in April, 2009, were exercised. The warrant exercise resulted in gross proceeds to the company of approximately $55.8-million. The Dec. 23, 2010, expiry date was an accelerated expiry as announced in Stockwatch on Nov. 22, 2010. The closing price of the company's common shares on the TSX Venture Exchange on Nov. 19, 2010, was $2.01. This marked the 20th consecutive trading day that the closing price of the company's common shares exceeded $2.00. Accordingly, the company elected to exercise its rights to accelerate the expiry date of the warrants and provided notice of the same to the warrantholders. Each warrant entitled the holder to acquire one common share of Africa Oil at a price of $1.50 per share on or before 5 p.m. (Vancouver time) on Dec. 23, 2010. ? 2010 Canjex Publishing Ltd.

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From: bcjt	7/22/2011 9:51:00 AM
	of 17

Africa Oil completes Lion Energy acquisition 2011-06-21 07:17 MT - News Release Also News Release (C-LEO) Lion Energy Corp Mr. Keith Hill reports AFRICA OIL COMPLETES ACQUISITION OF LION ENERGY Africa Oil Corp. has completed the acquisition of all of the issued and outstanding common shares of Lion Energy Corp., a publicly traded oil and gas company listed on the TSX Venture Exchange. Pursuant to an acquisition agreement previously announced April 3, 2011, Africa Oil acquired all of the issued and outstanding shares of Lion in consideration of 0.2 Africa Oil share for each common share of Lion. Under these terms, Africa Oil issued 17,462,447 common shares to complete the acquisition. In addition, outstanding options to acquire common shares of Lion will be exchanged for options to acquire 287,250 Africa Oil shares, issued pursuant to the terms of the Africa Oil stock option plan, and outstanding warrants to acquire Lion shares have been amended to provide for the issuance of 2,289,000 shares of Africa Oil upon exercise. In each case the exercise price and number of shares to be acquired has been adjusted to account for the exchange ratio of 0.2 Africa Oil share for one Lion share. The acquisition was approved by the Lion shareholders at a special shareholders meeting held on June 8, 2011, with 99.96 per cent of the votes cast being voted in favour of the acquisition, and by the Supreme Court of British Columbia on June 9, 2011. Trading in the common shares of Lion will be halted by the TSX-V before markets open on Tuesday, June 21, 2011. Lion's registered shareholders will be able to exchange their Lion shares for common shares of Africa Oil by completing a letter of transmittal and delivering it to Computershare Investor Services Inc. Because of the current postal disruption, the letter of transmittal, together with instructions for completing and delivering the completed letter of transmittal, are available on Africa Oil's website. Lion's registered shareholders are encouraged to download the letter of transmittal, complete it and return it to Computershare as soon as possible to avoid delays in receiving the Africa Oil common shares. Lion was a farm-in partner with Africa Oil in blocks 9 and 10BB in Kenya, and in the production sharing contracts for the Dharoor Valley exploration area and the Nugaal Valley exploration area in Puntland (Somalia). As a result of the completion of the acquisition of Lion, Africa Oil's direct and indirect interest in blocks 9 and 10BB has increased to 100 per cent and 50 per cent, respectively, and its interest in each of the Puntland (Somalia) production sharing contracts has increased to 60 per cent. Keith Hill, Africa Oil's president and chief executive officer, commented: "The acquisition of Lion consolidates our interests in the East African rift basins in Kenya and Puntland (Somalia). The cash portion of the deal will further strengthen our balance sheet to allow us to fully fund the upcoming aggressive exploration drilling campaign." We seek Safe Harbor. Top

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To: bcjt who wrote (8)	2/13/2012 11:20:52 AM
From: B O Trust	of 17

Africa Oil Corp.: Drilling Commences in Puntland, Somalia VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2012) - Africa Oil Corp. ("Africa Oil" or the "Company") (TSX VENTURE:AOI)(OMX:AOI) is pleased to announce the spudding of the Shabeel-1 well on the Dharoor Block in Puntland, Somalia and, operator, Horn Petroleum Corporation, is currently preparing to drill ahead to a total planned maximum depth of 3800 meters. Drilling operations have also commenced on the Shabeel North-1 well with the setting of the 30 inch surface casing and the drilling of a 50 meter pilot hole. Please see attached photos. Africa Oil holds a 51% equity interest in Horn Petroleum. To see the photos associated with this press release, click on the following link: http://media3.marketwire.com/docs/ao116.pdf The Sakson 501 rig will be used to drill both wells which are expected to take approximately 90 days each for drilling and evaluation. These two wells satisfy the first exploration period minimum work obligations of the Production Sharing Contracts for both the Dharoor and Nugaal Blocks. They are the first oil exploration wells to be drilled in over 20 years in the country. The Shabeel and Shabeel North prospects are located on a Jurassic aged rift system which is part of the same system that has proven to be highly productive in the Masila and Shabwa Basins in Yemen that contain an estimated 6 billion barrels of oil*. Both prospects are very large fault block prospects with internal most likely estimates of potential oil volumes of over 300 million barrels of recoverable oil. Source rocks are expected to be rich Jurassic Kimmeridgian shales in the deep portion of the rift immediately down dip from the Shabeel prospects. Reservoirs are expected to be sandstones and carbonates of the Lower Cretaceous and Jurassic systems analogous to Yemen. Horn President and CEO David Grellman commented, "The commencement of drilling in the Dharoor Valley block is a major milestone in the evaluation of the oil potential of Northern Somalia. We have had very strong support from the Puntland regional government and the local communities who are all keen to see development resume in the region after prolonged periods of internal strife. These wells are the first to be drilled into the deep areas of the rift basins and will be key to unlocking the hydrocarbon potential of this unexplored prospective trend."

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To: B O Trust who wrote (9)	2/13/2012 11:28:52 AM
From: B O Trust	of 17

Africa Oil Spuds Ngamia-1 Well in Kenya VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 25, 2012) - Africa Oil Corp. ("Africa Oil" or the "Company") (TSX VENTURE:AOI)(OMX:AOI) is pleased to announce the spudding of the Ngamia-1 well on Block 10BB, Kenya. Tullow Oil plc is the operator with a 50% working interest and Africa Oil holds the remaining 50%. Please see attached map: http://media3.marketwire.com/docs/AOI0125.pdf The Ngamia-1 well will be drilled to a projected depth of 2,700 meters to test the oil potential in Miocene age sandstones. The well is located in the Lokichar basin, a north-south trending rift basin that is part of the East African Rift System. Live oil was encountered in the Lokichar basin by the Loperot-1 well which was drilled in 1992 and recovered 29 degree API crude from Miocene sandstones. The Ngamia-1 well will test a prospect that is similar to oil prospects drilled by Tullow and its partners early in the exploration efforts in the Lake Albert Rift Basin of Uganda. Drilling and evaluation of the well is expected to take between 60 and 90 days. A number of prospects and leads have been mapped and would be prospective following a success of the Ngamia prospect. The Ngamia-1 will be the first well drilled on the block by the partnership and will mark the start of a multi-well drilling program in Block 10BB and adjacent blocks. Keith Hill, President and CEO of Africa Oil, commented, "We are very excited to be drilling our first well with Tullow. They've had enormous success with the Lake Albert Rift Basin project where in excess of 1 billion barrels have been discovered and this shares many geological similarities with our Kenyan assets. Our Ngamia prospect could be a play opener for another great success in the region."

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