Africa Oil Corp.
Company Announcement
TWIGA SOUTH-1 WELLTESTS 2,351 BARRELS OF OIL FROM TWO ZONES - FINAL TEST ONGOING
February 13, 2013 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to provide the following update in respect of its ongoing operations in Kenya.

Four flow tests have been carried out on the Twiga South-1 well in January and early February and a fifth test is ongoing. A cumulative rate of 2,351 bopd was recorded from two separate sands in the Auwerwer formation. One test flowed at a maximum natural flow rate of 1,860 bopd of 37°API oil and the other flowed at a rate of 491 bopd using a Progressive Cavity Pump (PCP). The final flow test in the Auwerwer formation is ongoing using a PCP and we anticipate that the zone will flow over 500 bopd taking the total combined rate to over 2,850 bopd for the well. Two deeper tests were also completed on the tight reservoir rock at the bottom of the well and, as anticipated, both produced at sub-commercial flow rates and reconfirmed the presence of moveable oil.

The reservoir quality of the Auwerwer sands appears to be significantly better than predicted which was also supported by recent core analysis data with several values over 1 darcy permeability. These tests provide the first potentially commercial flow rates achieved in Kenya and provide real encouragement for the forthcoming DST programme at the Ngamia discovery, located approximately 22 kilometres to the south of Twiga South-1. With the conclusion of the Twiga South-1 testing programme, the Weatherford-804 rig will move to Ngamia-1A to re-enter the well and perform at least four flow tests.

The Company also reports that the Paipai-1 well has reached a total depth of 4255 metres, encountering igneous rocks at the base that appear to be basement. Light hydrocarbon shows were encountered in sands in the Lower Cretaceous interval and the well is currently being cased for additional fluid sampling by MDT. Further testing or evaluation of Paipai, if warranted, would follow with a dedicated testing unit. On completion of operations at Paipai, the Sakson PR-5 will mobilise to Kenya Block 10BB to spud the Etuko-1 well in the Lokichar basin. The spud is expected in 2Q 2013.

Africa Oil President and CEO, Keith Hill, stated, “We are extremely pleased at the reservoir quality and resultant flow rates in the shallow Auwerwer sands confirmed by this testing. We will now focus on this section as the primary reservoir in our upcoming exploration program on the western flank of the Lokichar Basin. We remain intrigued by the lower fractured reservoir and Lower Lokhone sands which will be further evaluated in future exploration. Our aggressive 2013 drilling program includes numerous high impact wells on trend with the Lokichar discoveries but also wells in new areas designed to open additional sub-basins in our large acreage portfolio.”