Africa Oil Operational Update and Conference Call - Seite 2

Well testing has been completed on the previously announced Ewoi discovery on the eastern flank of the Lokichar Basin in Block 10BB (Kenya). The main zone of interest tested approximately 50 barrels of oil per day from the lower Lokhone sands which were relatively thin and of moderate reservoir quality. Data from the well may suggest that the wellbore may have been located in a downdip position and the Company is considering updip appraisal opportunities on this structure. The lightweight rig is currently testing the Twiga-2A appraisal well where two to three tests are planned.

The Company plans to move the two rigs that are completing drilling operations on the Etom and Amosing locations to the Kodos and Ekosowan locations and both are expected to spud in September. The Kodos well is the first well to be drilled in the highly prospective Central Kerio basin in Kenya Block 10BB and will target a three way dip closed feature against the main basin bounding fault similar to the Ngamia/Amosing/Twiga trend in the Lokichar Basin. The Ekosowan well is located on the western 'string of pearl' prospects in the Lokichar basin and is directly south of the Ngamia and Amosing fields which have demonstrated the thickest net pay and reservoir in the basin. Both wells are expected to be completed in the fourth quarter. Two additional new basin opening wells are planned to spud before the end of the year in the North Kerio Basin (Epir-1) and the North Turkana Basin in Block 10 BA (Engomo-1).

The Company has also spud an appraisal well on the previously announced Sala gas discovery in Block 9 onshore Kenya. The Sala-1 drilled a large 80 square kilometer anticlinal feature along the northern basin bounding fault in the Cretaceous Anza graben and encountered several sandstone intervals which had oil and gas shows. An upper gas bearing interval tested dry gas at a maximum rate of 6 mmcf/d from a 25 meter net pay interval. The Sala-2 appraisal well is designed to test the updip extent of this main reservoir sand. A lower interval at Sala-1 also tested gas at low rates of dry gas from a 50m potential net pay interval and will also be accessed at this up-dip location. Africa Oil is the Operator of Block 9 with a 50% working interest. Marathon Oil Kenya Limited B.V. has the remaining 50% interest.