Africa Oil Operations and Development Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 29, 2015) - Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") (TSX:AOI)(OMX:AOI) is pleased to provide the following update on its operations in Kenya.

Kenya

During the second quarter of 2015, activities were focused on the appraisal of the South Lokichar basin to test the extent of previous discoveries and gain important reservoir data for the field development plans.

A number of Extended Well Tests (EWTs) have been completed at the Amosing field, and preparations are advanced for the Ngamia field EWTs which are due to commence in August. The Amosing-1 and Amosing-2 wells were completed in five separate zones and initial rig-less flow testing during clean-up flowed at a cumulative maximum rate of 5,600 and 6,000 bopd respectively. These results exceeded expectations, and demonstrated high quality reservoir sands which flowed 31 to 38 degree API dry oil under natural conditions. During the test the wells produced at a cumulative average constrained rate of 4,300 bopd under natural flow conditions. Pressure data from the two wells supports significant connected oil volumes and confirms lateral reservoir continuity, which is positive for the future development. A cumulative volume of 30,000 barrels of oil has been produced into storage. Water injection tests are under way to further validate the viability of water flood reservoir management and the oil recovery assumptions.

Preparations are now well advanced for the Ngamia field EWTs which are due to commence in August. In preparation for the Ngamia EWTs, multi zone completions have been installed in the Ngamia-8, Ngamia-3 and Ngamia-6 wells and clean-up flow testing has been completed. The Ngamia EWT flow test will be followed by water injection testing. Elsewhere in the South Lokichar basin, Ngamia-9, an appraisal well for this field, was completed in July 2015 and encountered between 90 metres and 110 metres of net oil pay in the Lokone and Auwerwer horizons.

All of the appraisal work to date is strongly underpinning the Company's Gross Contingent Resources estimated range (2C and 3C) of between 616 and 1290 mmbo. This estimate was completed by independent third party resource evaluators in 2014 (see news release dated September 16, 2014) and is expected to be updated in the fourth quarter of this year. The results have also identified additional prospective upside in the basin.