Africa Oil Kenya Operations Update and Conference Call - Seite 2

The SMP-5 rig will now move to the Amosing oil field to begin Extended Well Testing, where production and injection interference testing, involving the Amosing-1 and 2A wells, will help provide dynamic flow characterisation of the Amosing stacked reservoirs.

Africa Oil owns a 50% working interest in Blocks 10BA, 10BB and 13T with Operator Tullow Oil holding the remaining 50%.

In Block 9, the Sala-2 appraisal well failed to find significant hydrocarbons updip from the Sala-1 gas discovery. There appears to be a stratigraphic or structural separation between the two wells. The Company is reviewing additional potential appraisal targets as well as on trend prospects in the block which has proven oil and gas generation. Africa Oil is Operator of Block 9 with a 50% working interest and Marathon Oil Kenya B.V. has the remaining 50% interest.

Keith Hill, Africa Oil CEO commented, "We are encouraged that the first well in the Kerio Basin encountered hydrocarbon shows which indicates the presence of an active petroleum system. We believe the reservoir will improve as we move away from the basin bounding fault and believe that the Epir-1 well should intersect this section in the North Kerio Basin directly on trend. We are still of the view that the basins nearby the proven Lokichar Basin are highly prospective and should have similar geology due to a similar geological history. We look forward to drilling basin opening wells both here and in the large North Turkana Basin. We continue to build certainty and resources in the main Ngamia / Amosing field areas and the data obtained from the 3D seismic and the Ekosowan well should allow us to expand this area further. Development planning, including the export pipeline, continues to move forward with the full support of the government of Kenya."

Conference Call

A conference call will held to discuss the resource update on October 23, 2014 at 10:00 a.m. ET, 3:00 p.m. UK time, or 4:00 p.m. Swedish time.

Please call in 10 minutes before the conference starts and stay on the line (an operator will be available to assist you).

Call-in number for the conference call (North America): [phone]

Call-in number for the conference call (North America Toll Free): [phone]

Call-in number for the conference call (Europe): + 800-9559-6849

A replay of the telephone conference will be available approximately one hour after the completion of the conference call until October 30, 2014.

Replay number in North America: [phone]