AOI Africa Oil Corp.

Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI)  ("Africa Oil" or the "Company") is
pleased to announce excellent results from its recent drilling operations in
Kenya and Ethiopia. 


The testing program at the Ngamia-1 oil discovery on Block 10BB in Kenya has now
been successfully completed. The cumulative flow rate from six Drill Stem Tests
("DST's") was over 3200 barrels of oil per day ("BOPD") constrained by
completion techniques and surface equipment. With optimized completion
techniques and surface equipment it is estimated that these combined flow rates
would increase to a rate of 5400 BOPD. Five of the DSTs were completed over the
Auwerwer sandstones to verify reservoir quality and fluid content which appear
to be of similar quality to those tested at the Twiga South-1 well in the same
basin. High quality waxy sweet crude (25-35 degrees API) was flowed from all
five zones in the Auwerwer formation with good quality reservoir sands
encountered. All zones produced dry oil with no water produced and no pressure
depletion. One DST was completed on the Lower Lokhone with successful results as
previously announced on April 15, 2013.


In addition to proving the good quality reservoir, as a result of testing
several previously indeterminate zones in the well, the joint venture has been
able to double the firm net oil pay estimate in the Ngamia well to over 200
meters over a gross oil column of over 1,100 meters and has increased the net
pay at Twiga to over 75 meters. The Operator, Tullow Oil, has reported that they
believe the Ngamia and Twiga fields contain over 250 million barrels of
recoverable oil. Appraisal work, including the acquisition of 3D seismic and the
drilling of appraisal wells on both discoveries, will be undertaken over the
next year to confirm these estimates. A mid-year revision to the Company's third
party resource report is ongoing and is expected to be issued in the third
quarter and will take into account these improved reservoir thickness and
quality parameters.


The Weatherford 804 rig used to test this well is currently being mobilized 13
kilometers north to the Ekales location, a prospect similar to and located
between the Twiga and Ngamia discoveries, which is expected to spud in late
July.


The Company is also pleased to announce that oil has been discovered in the
Etuko prospect in the Lokichar Basin in Block 10BB in Kenya. This well was
located on a tilted fault block target on the Basin Flank Play on eastern side
of the basin. Based on logs and oil recovered by MDT sampling, net pay of 40
meters has been confirmed in the Auwerwer and Upper Lokhone targets which
demonstrate good reservoir properties and oil quality. Within the Upper Lokhone
sequence the well encountered a thick section of lacustrine source rocks with
interbedded oil-bearing sandstones. The well is currently drilling in the Lower
Lokhone sands and results from this lower section are expected by the end of
July.


The Company is also pleased to announce that the Sabisa-1 well, the most
northerly well drilled in the trend to date, has confirmed a viable hydrocarbon
system in this region. The well was drilled on the South Omo Block in Ethiopia
in the northern portion of the Turkana Basin, over 300 kilometers north of the
Ngamia and Twiga discoveries, to a total depth of 2082 meters. The well
encountered reservoir quality sands, oil shows and heavy gas shows indicating an
oil prone source rock and a thick shale section which should provide a good
seals for the numerous fault bounded traps identified in the basin. Only the
lowermost sands appear to be in trapping configuration at Sabisa. Based on the
encouragement of the results of this well however, the decision has been made to
drill the nearby Tultule prospect which appears to be a horst-block structure 4
kilometers to the east. The OGEC 75 rig move has been initiated and a late third
quarter spud is expected. Numerous additional follow-up prospects have been
mapped in this part of the South Omo Block and in the adjacent Chew Bahir Basin.


Preparations continue for drilling in both the Kenya Block 9 Bahasi prospect and
the Ethiopia Ogaden Basin Block 8 El Kuran prospect. Africa Oil will operate the
Bahasi well on behalf of its 50% joint venture partner Marathon Oil and will
utilize the Great Wall drilling rig #190. The prospect is a large anticlinal
feature in the Lower Cretaceous Anza rift and is on trend with the Paipai
discovery made early this year in Kenya Block 10A. The El Kuran well is being
operated by New African Global Energy and is expected to spud in July. It is a
Jurassic fractured carbonate play on a large anticlinal feature that had
previously been drilled by Tenneco in the early 1970's and had tested light oil
at low rates. The primary goal of this well is to prove commercial flow rates.
Based on the results of the initial well, fracture stimulation and horizontal
drilling may be considered. An additional lightweight rig for testing and
drilling operations is also being mobilized into the Lokichar Basin in Kenya
which will bring the total rig count to six in the Company's blocks in Kenya and
Ethiopia. A Full Tensor Gradiometry ("FTG") survey is also currently underway in
the Company's wholly owned Rift Basin Area in Ethiopia and is expected to be
completed in August.


Africa Oil CEO Keith Hill commented, "We are very pleased with the results of
the Ngamia-1 testing program which has confirmed the productivity of both the
Lower Lokhone reservoir and the high quality Auwerwer reservoir and
significantly increased the net pay in the well. Ngamia is a world-class oil
discovery and these results move us towards achieving the threshold for a
commercial development in the Lokichar basin. This encouragement has caused us
to set in motion appraisal of the Ngamia-Twiga trend and to assemble a technical
team to commence early development planning both for a large scale pipeline
development and an early development scheme. The Etuko discovery also opens up a
new fairway on the eastern flank play in Lokichar where a number of other large
scale prospects have been identified. The Sabisa results are also highly
encouraging as all the major components for oil accumulation appear to have been
proven in one of our largest and most prospective frontier basins in the
portfolio. The second half of 2013 promises to be an exciting and
transformational period in the growth history of the Company."


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 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. Two new
significant discoveries have been announced in the Lokichar basin in which the
Company holds a 50% interest along with operator Tullow Oil plc. The Company is
listed on the TSX Venture Exchange and on First North at NASDAQ OMX-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.


ON BEHALF OF THE BOARD

Keith C. Hill, President and CEO

Africa Oil's Certified Advisor on NASDAQ OMX First North is Pareto Ohman AB.

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Africa Oil Corp.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
www.africaoil.com

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