Africa Oil Announces Addition to Management Team
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/16/13 -- Africa
Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company")
is pleased to announce that effective May 1, 2013, Mr. Mark Dingley
will join the Company as President of Africa Oil Ethiopia B.V. and
Chief Operating Officer of Horn Petroleum Corporation ("Horn").
Africa Oil holds an approximate 45% equity interest in Horn and
provides the management of the business. Mr. Dingley will be based
out of the Company's Addis Ababa office.
Mr. Dingley has 14 years of oil industry experience including 12
years with Talisman Energy Inc. where he served as Vice President,
Middle East Operations as well as General Manager, Peru; Manager,
Corporate Security & Surface Risk; and Manager, Government Affairs &
Deputy General Manager, Sudan. Prior to entering the oil industry
Mark spent 4 years working in the mining industry in various
locations through Africa and he also served in the British Military
for 12 years. His education includes both Bachelors and Masters
degrees in Law from Canterbury, UK and he has also completed an
Executive MBA at Harvard Business School. Mark was born and educated
Mr. Keith Hill, President and CEO of Africa Oil, commented, "We are
very pleased to have been able to attract Mark to our organization
and his skill set will be of great benefit to the Company as we
commence operations in Ethiopia and move to conduct further
operations in Somalia through Horn. Mark has extensive experience and
knowledge throughout Africa which will assist us as we look to expand
our operations in the region."
The Company also announces that it has granted an aggregate of
5,673,500 incentive stock options to certain officers, directors, and
other eligible persons of the Company. The options are exercisable,
subject to vesting provisions, over a period of three years at a
price of $5.94 per share.
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
approximate 45% equity interest in Horn Petroleum Corporation. Africa
Oil's East African holdings are in 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.
New discoveries have been announced on all sides of Africa Oil's
virtually unexplored land position including the major Albert Graben
oil discovery in neighboring Uganda. Africa Oil's recent Ngamia-1 and
Twiga South-1 discoveries extend the Albert Graben play into Kenya
where Africa Oil along with partner Tullow Oil plc hold a dominant
acreage position. Newly acquired seismic and gravity data show robust
leads and prospects throughout Africa Oil's project areas. The
Company is listed on the TSX Venture Exchange and on First North at
NASDAQ OMX-Stockholm under the symbol "AOI".
ON BEHALF OF THE BOARD
"Keith C. Hill", President and CEO
Africa Oil's Certified Advisor on NASDAQ OMX First North is Pareto
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Africa Oil Corp.
(604) 689-4250 (FAX)
Press spacebar to pause and continue. Press esc to stop.