Africa Oil and Alberta Oilsands Announce Assignment of Blocks 12A and 13T in Kenya to Africa Oil Completed

Africa Oil Corp. (TSX VENTURE:AOI) ("Africa Oil") and Alberta Oilsands Inc. (TSX
VENTURE:AOS) ("AOS") are pleased to announce that the assignment, from Platform
Resources Inc. ("Platform"), a wholly-owned subsidiary of AOS, to Africa Oil
Kenya B.V., a wholly-owned subsidiary of Africa Oil, of Platform's 100% interest
in Blocks 12A and 13T in Kenya has received regulatory approval and is now
complete.


Consideration for the assignment is comprised of 2.5 million Africa Oil common
shares and 1.5 million Africa Oil share purchase warrants, each of which is
exercisable into one common share at a price of $1.50 per share for a period of
two years. The terms of the warrants contain an accelerated exercise clause
which is triggered if Africa Oil's common shares trade at over $2 per share for
20 consecutive trading days. If the acceleration clause is exercised by Africa
Oil, the warrants will expire on a date that is not less than 180 days from the
date of written notice to Platform.


The contract areas are adjacent to Africa Oil's Block 10BB which hosts the
Loperot-1 oil discovery (see Africa Oil's news release dated January 7, 2010 for
resource estimates). Existing gravity data on Blocks 12A and 13T suggests that
the proven Lokichar basin and other prospective sub-basins and known strong
leads in Block 10BB may extend onto these new blocks.


As previously announced by Africa Oil on September 2, 2010, Tullow Oil plc will
acquire a 50% interest in, and operatorship of, Blocks 12A and 13T in addition
to Blocks 10BB and 10A in Kenya as well as Africa Oil's South Omo Block in
Ethiopia.


In connection with the closing of the assignment, AOS amalgamated with Platform
by way of a vertical short-form amalgamation, completed pursuant to subsection
184(1) of the Business Corporations Act (Alberta). The amalgamation resulted in
the cancellation of Platform's issued and outstanding shares, without repayment
of capital in respect thereof. The articles and stated capital of the
amalgamated corporation are the same as the pre-amalgamation articles and stated
capital of AOS.


About Africa Oil

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya,
Ethiopia and (Puntland) Somalia. Africa Oil's East African holdings are in what
is considered a truly world-class exploration play fairway. Africa Oil's total
gross land package in this prolific region is approaching 250,000 square
kilometers - an area roughly the size of Great Britain. The East African Rift
Basin system is one of the last of the great rift basins to be explored. New
discoveries have been announced on all sides of Africa Oil's virtually
unexplored land position including the major Tullow Albert Graben oil discovery
in neighbouring Uganda. Similar to the Albert Graben play model, Africa Oil's
concessions have older wells, a legacy database, and host numerous oil seeps
indicating a proven petroleum system. Good quality existing seismic show robust
leads and prospects throughout Africa Oil's project areas. The Company is listed
on the TSX Venture Exchange under the symbol "AOI".


About AOS

Alberta Oilsands Inc. is a technically driven high growth energy company focused
on the development and conversion of the company's oil sands resources to
reserves and the creation of long term sustainable value by increasing
production and cash flow on relevant conventional oil and natural gas assets.


Forward-Looking Statements and Information

This press release contains certain forward-looking statements and information
within the meaning of such statements under applicable securities law. Due to
the risks, uncertainties and assumptions inherent in forward-looking statements
and information, prospective investors in Africa Oil's or AOS' securities should
not place undue reliance on forward-looking statements and information.


ON BEHALF OF THE BOARD OF AFRICA OIL CORP.

Keith Hill, President and CEO

ON BEHALF OF THE BOARD OF ALBERTA OILSANDS INC.

Shabir Premji, Executive Chairman