Pan African Oil Ltd. Announces Appointment of New CFO and Grant of Stock Options

Calgary, Canada, July 23, 2013 - Pan African Oil Ltd. (TSXV:PAO) ("PAO" or the "Company") is pleased to announce that Dean Callaway, B.Comm., MBA, CGA, has joined the PAO team as the new Chief Financial Officer ("CFO") and Corporate Secretary and will be based in the Calgary corporate office. Mr. Callaway has over 24 years of experience of which the last 10 have been in senior management positions in both private and public, junior international oil and gas exploration companies. Most recently Dean was CFO and Vice President Finance at Gallic Energy Ltd. (acquired by Petromanas Energy Inc.), and prior to that, TG World Energy Corp. (acquired by TVI Pacific Inc.) where he was CFO and Corporate Secretary.

The Company also announces that it has granted options to directors, officers, an employee and a consultant of the Company. Of the 2.32 million options granted, a total of 1.96 million options were granted to directors and officers of the Company. Each option has an exercise price of $0.15 per share and is exercisable for a period of five years from the date of grant. The options vest over two years as follows: 1/3 on the grant date; 1/3 on the first anniversary of the grant date; and 1/3 on the second anniversary of the grant date.

For further information, please contact:

Pan African Oil Ltd.

Gary Wine

Phone: [phone]

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