AFRICA OIL ANNOUNCES EMEKUYA-1 OIL DISCOVERY IN KENYA

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Etom by Night. (Photo Credit: Tullow Oil )

(AOI-TSX, AOI-Nasdaq Stockholm)…Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) is pleased to announce that the Emekuya-1 well in Block 13T, Northern Kenya has encountered approximately 75 metres of net oil pay in two zones.

Emekuya-1 is located 2.5 km north of Etom-2 and had the objective of drilling a fault block on the flank of the Greater Etom structure. The well was drilled by the PR Marriott Rig-46 to a total measured depth of 1,356 metres and penetrated reservoir quality Miocene sandstones which correlate to those seen in the successful Etom-2 well.

Downhole pressure measurements and fluid samples suggest that the main oil reservoir is on the same static pressure gradient as the Etom-2 well which demonstrates that a major part of the Greater Etom structure is oil-filled. The reservoir sands encountered also appear to be extensive which further de-risks the northern play area and bodes well for future exploration in the region.

The rig will be moved to drill an up-dip appraisal well on the Etom structure. Tullow Oil plc operates blocks 13T and 10BB with 50% equity and is partnered by Africa Oil and Maersk Olie og Gas A/S both with 25%.

Africa Oil CEO Keith Hill commented, “We are very pleased to continue our 100% success rate in the current program as we continue to build resources to enhance our ongoing development program. The four additional wells planned as well as the water flood pilot project will further allow us to better define the size and scope of the development.”

About Africa Oil Corp.

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and Ethiopia. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol “AOI”.

Source: Euro Investor

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