Africa Oil Corp.
Company Announcement

AFRICA OIL KENYA OPERATIONS UPDATE

April 30, 2015 (AOI-TSX, AOI-Nasdaq Stockholm) … Africa Oil Corp. (“Africa Oil”
or the “Company) is pleased to provide the following update on the appraisal
program in the South Lokichar Basin. 

In Kenya, the extensive appraisal program in the South Lokichar Basin
continues.  The Amosing -1 and Amosing -2 wells have been completed in five
zones with hydraulically controlled completions that permit independent tests
of selected intervals without well intervention in preparation for an Extended
Well Test (EWT) of the field.  Initial rig-less flow testing  during clean-up
at a combined maximum rate of 5,600 and 6,000 bopd respectively exceeded
expectations, demonstrating high quality reservoir sands which flowed 31 to 38
degree API dry oil under natural conditions. The EWT involves production and
water injection testing to enable dynamic flow characterisation between wells
in the Amosing stacked oil reservoirs. The full EWT will commence shortly and
results are expected over the next few months. The Amosing-4 appraisal well was
drilled on the flank of the field and successfully encountered 27 metres of net
oil pay in thick upper reservoir zones proving the significant down-dip extent
of the field. 

Elsewhere in the Lokichar basin, the Ekales-2 appraisal well reached a total
depth of 4,059 metres and encountered an estimated 60-100 metres of net oil pay
in the primary shallower objectives. This highly deviated well was also
deepened to test the basin centre stratigraphic play where it intersected
sandstones with elevated pressures and 50 metres of oil bearing sands, however
operating conditions precluded logging and confirmation of any oil pay in this
section. This was the first test of this exploration target and is very
positive for the future upside potential of the South Lokichar basin above the
significant oil resources already discovered. 

The Ngamia-7 appraisal well was drilled to test the Ngamia oil field’s eastern
flank and encountered up to 130 metres of net oil pay, expanding the proven
extent of the field. The Ngamia-8 appraisal was drilled and encountered up to
200 metres of net oil pay in line with pre-drill expectations. The well was
positioned in the centre of the Ngamia structure and static pressure data
indicates the well is in pressure communication with the oil discovered in the
neighbouring Ngamia-1A, Ngamia-3, Ngamia-5, Ngamia-6 and Ngamia-7 wells. 
Ngamia -8 will be completed as part of the Ngamia field EWT planned for
mid-year which will also include the Ngamia-3 and Ngamia-6 wells. 

The extensive appraisal activities in Kenya, including the planned EWT, along
with the development concept studies completed in 2014 will enable a draft
Field Development Plan (FDP) to be prepared by end 2015. The current ambition
of the joint venture partnership is to position the East Africa project, which
will include the development of South Lokichar and Tullow’s Lake Albert
resources and an export pipeline, for possible sanction by the end of 2016,
subject to receipt of all necessary permits and approvals. Good progress
continues to be made towards development of these oil resources and as part of
the ongoing collaboration between the Governments of Kenya and Uganda on the
oil export pipeline, a joint technical adviser was appointed in late 2014. The
independent technical studies being undertaken by the adviser, with extensive
support from the Kenya and Uganda upstream partners, are progressing rapidly
and should assist in the finalisation of the pipeline route. 

Africa Oil owns a 50% working interest in Kenya Blocks 1BB and 13T with
Operator Tullow Oil holding the remaining 50%. 

Keith Hill, President and CEO, commented, “We continue to be highly encouraged
by the appraisal program in the Lokichar Basin which is above our expectations
and confirms our belief that this is a world-class asset.  We are working
closely with our partners and the Kenyan Government to move the development
project forward, particularly the export pipeline, which is the key to
unlocking the value of this asset.  The 3D seismic has been a great help in
imaging new drilling targets in the basin and we plan to drill some high impact
wells with the potential to add significant resources in the coming months.“ 



About Africa Oil Corp.

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and
Ethiopia as well as Puntland (Somalia) through its equity interest in Africa
Energy Corp. The Company is listed on the Toronto Stock Exchange and on Nasdaq
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. 


Cautionary Statements regarding Well Test Results

Drill stem tests are commonly based on flow periods of 1 to 5 days and build up
periods of 1 to 3 days. Pressure transient analysis has not been carried out on
all well tests and the results should therefore be considered as preliminary.
Well test results are not necessarily indicative of long-term performance or of
ultimate recovery. 



                             ON BEHALF OF THE BOARD

                                        

                                “Keith C. Hill”

                                President and CEO

                                        


         For further information, please contact: Sophia Shane, Corporate
Development (604) 689-7842.