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AOI Africa Oil Corp.

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Share Name Share Symbol Market Type
Africa Oil Corp. TSXV:AOI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Africa Oil Announces Kenya Operations Update

07/11/2013 8:00am

Marketwired Canada


Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company")
announces that it will resume operations in Block 10BB and Block 13T on November
8, 2013 in Northern Kenya following successful dialogue with national and county
government and leaders of the local community. 


The suspension of operations announced last week allowed all parties to discuss
and understand the complex operating environment in Northern Kenya and commit to
taking the necessary action to allow exploration operations to resume. 


Further to these discussions, the Company's operating partner, Tullow Oil plc
("Tullow"), has signed a Memorandum of Understanding (MoU) with the Minister for
Energy. The MoU clearly lays out a plan for the Government of Kenya, county
government, local communities in Northern Kenya and Tullow and Africa Oil to
work together inclusively over the long-term and to ensure that operations can
continue without disruption in the future. 


Through the MoU, Africa Oil and Tullow have re-affirmed their commitment to
local employment, local opportunities and transparency throughout its operations
in Northern Kenya. As the partnership's exploration campaign progresses and
gathers pace, the number of local employees and local companies involved in our
work will continue to grow.


About Africa Oil

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and
Ethiopia as well as Puntland (Somalia) through its 45% equity interest in Horn
Petroleum Corporation. Africa Oil's East African holdings are within a
world-class exploration play fairway with a total gross land package in this
prolific region in excess of 250,000 square kilometers. The East African Rift
Basin system is one of the last of the great rift basins to be explored. Four
new significant discoveries have been announced in the Northern Kenyan basin in
which the Company holds a 50% interest along with operator Tullow Oil plc. The
Company is listed on the TSX Venture Exchange and on First North at NASDAQ
OMX-Stockholm under the symbol "AOI".


Forward Looking Statements

Certain statements made and information contained herein constitute
"forward-looking information" (within the meaning of applicable Canadian
securities legislation). Such statements and information (together, "forward
looking statements") relate to future events or the Company's future
performance, business prospects or opportunities. Forward-looking statements
include, but are not limited to, statements with respect to estimates of
reserves and or resources, future production levels, future capital expenditures
and their allocation to exploration and development activities, future drilling
and other exploration and development activities, ultimate recovery of reserves
or resources and dates by which certain areas will be explored, developed or
reach expected operating capacity, that are based on forecasts of future
results, estimates of amounts not yet determinable and assumptions of
management.


All statements other than statements of historical fact may be forward-looking
statements. Statements concerning proven and probable reserves and resource
estimates may also be deemed to constitute forward-looking statements and
reflect conclusions that are based on certain assumptions that the reserves and
resources can be economically exploited. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "seek", "anticipate", "plan",
"continue", "estimate", "expect, "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should", "believe" and
similar expressions) are not statements of historical fact and may be
"forward-looking statements". Forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such forward-looking
statements. The Company believes that the expectations reflected in those
forward-looking statements are reasonable, but no assurance can be given that
these expectations will prove to be correct and such forward-looking statements
should not be unduly relied upon. The Company does not intend, and does not
assume any obligation, to update these forward-looking statements, except as
required by applicable laws. These forward-looking statements involve risks and
uncertainties relating to, among other things, changes in oil prices, results of
exploration and development activities, uninsured risks, regulatory changes,
defects in title, availability of materials and equipment, timeliness of
government or other regulatory approvals, actual performance of facilities,
availability of financing on reasonable terms, availability of third party
service providers, equipment and processes relative to specifications and
expectations and unanticipated environmental impacts on operations. Actual
results may differ materially from those expressed or implied by such
forward-looking statements.


ON BEHALF OF THE BOARD

Keith C. Hill, President and CEO

Africa Oil's Certified Advisor on NASDAQ OMX First North Stockholm is Pareto
Securities AB.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Africa Oil Corp.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
africaoilcorp@namdo.com
www.africaoilcorp.com

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