Africa Oil Announces Etuko-1 Well Spuds in Kenya

Africa Oil Announces Etuko-1 Well Spuds in Kenya 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/13/13 -- Africa
Oil Corp. (TSX VENTURE:AOI)(NASDAQ OMX:AOI) ("Africa Oil" or the
"Company") is pleased to announce that Tullow Oil Plc, the operator
of Block 10BB in Kenya, has commenced drilling at the Etuko (formerly
Kamba) prospect. This well will target a new play area in the
Lockichar Basin where a working petroleum system has been confirmed
by recent discoveries at Ngamia and Twiga. The well will focus on the
'eastern flank play' where oil was discovered in 1992 by Shell at the
Loperot-1 well. The primary objectives will be the Lower Lokhone and
Auwerwer sands, both of which have been shown to be high quality
reservoirs containing oil in existing wells. The gross best estimate
of prospective resources for the prospect are 231 million barrels of
oil based on a third-party Competent Person's Report(i). The well is
expected to take approximately 60 days to drill and evaluate. 
Testing operations continue on the Ngamia #1 well, also in Block 10BB
in Kenya, and drilling operations continue on the Sabisa #1 well in
the South Omo Block in Ethiopia. A result for Sabisa is expected in
late May and Ngamia testing completed in early June.  
Africa Oil CEO Keith Hill commented, "The Etuko prospect is one of
the most attractive prospects in our portfolio and has the potential
to open up an new play fairway on the eastern side of the already
proven Lockichar Basin. A number of additional prospects and leads
will be de-risked on this 'eastern flank' play if the Etuko well is
successful. With three rigs active and three more on the way, the
second half of 2013 promises to be a very exciting period in the
continuing growth story of the Company in East Africa." 
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 a
ll 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". 
(i)See news release dated August 22, 2012 for further information. 
Keith C. Hill, President and CEO  
Africa Oil's Certified Advisor on NASDAQ OMX First North is Pareto
Ohman AB. 
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. 
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.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
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