Africa Oil Corp (AOIFF)

Exciting new player for the East African Rift. Outstanding assets.

http://www.africaoilcorp.com/s/Home.asp

Africa Oil Corp. was incorporated under the Company Act (British Columbia) on March 29, 1983 under the name "Canmex Minerals Corporation" with an authorized capital of 100,000,000 common shares. On July 2, 1999 the issued and outstanding shares of the Company were consolidated on a one-for-five basis and the authorized capital was increased, post-consolidation to 100,000,000 common shares. On August 20, 2007 the Company changed its name to Africa Oil Corp. On June 19, 2009 the shareholders of AOC, passed a special resolution increasing the Company's authorized share capital to an unlimited number of common shares.

Effective February 23, 2011, the Company completed the acquisition of all of the issued and outstanding common shares of Centric Energy Corp. ("Centric"), a publicly traded oil and gas company listed on the TSX Venture Exchange. Pursuant to the acquisition agreement, AOC acquired, by way of a plan of arrangement, all of the issued and outstanding shares of Centric in consideration for 0.3077 AOC shares and CAD$0.0001 for each common share of Centric. The value of consideration issued was estimated at $60.2 million.

On June 21, 2011 Africa Oil completed the acquisition of all of the issued and outstanding common shares of Lion Energy Corp. (LEO-TSXV; "Lion"), a publicly traded oil and gas company listed on the TSX Venture Exchange. Pursuant to an acquisition agreement, Africa Oil acquired all of the issued and outstanding shares of Lion in consideration of 0.2 Africa Oil shares for each common share of Lion. Under these terms, Africa Oil issued 17,462,447 common shares to complete the acquisition.



Operations: East African Exploration


Reserves/Resources

http://www.africaoilcorp.com/s/Reserves_Resources.asp









Somalia:

The company holds two blocks in Puntland, Somalia: the Nugaal Block and the Dharoor Block. Block Summaries CountryConcessionAcreage Somalia Dharoor 14,424 km² Nugaal 21.784 km²

Kenya:

The company holds six blocks in Kenya: Blocks 9, 10A, 10BB, 10BA, 12A and 13T.

Block Summaries CountryConcessionAcreageWI

Kenya	10A	14,748 km²	30%
	10BA	16,205 km²	50%
	10BB	12,675 km²	50%
	9	23,700 km²	100%
	12A	15,389 km²	50%
	13T	8,429 km²	50%

Ethiopia:

The Company has three projects in Ethiopia consisting of blocks 7 & 8 in the Ogaden Basin of eastern Ethiopia, the Adigala Block close to the border with Somalia and Djibouti and the South Omo Block which lies in the Omo Rift Valley of south-western Ethiopia. The Ogaden Basin blocks are relatively underexplored with limited well and seismic data to constrain the petroleum system proved by the Calub and Hilala fields to the east. The Adigala block is a wildcat opportunity with no wells in the area. An analogue petroleum system is predicted based on nearby outcrop data and field surveys. The South Omo Block is within the Tertiary age East African Rift, just north of Lake Turkana, Kenya and within the same petroleum system as the Company's Kenya Block 10BB and Tullow's Uganda discoveries. Block Summaries CountryConcessionAcreageWI Ethiopia 7 & 8 23,162 km² 55% Adigala 27,200 km² 50% South Omo 29,465 km² 30%

Republic of Mali:

The Company holds a 25% interest in two exploration licenses in the Republic of Mali where its costs are fully carried by Heritage Oil Corporation under the terms of a farmout agreement through the primary seismic program and the first exploration well. The area of the licenses is part of the Cretaceous-age Central Africa Rift Trend which contains significant oil accumulations in Chad, Sudan and Niger. The basin has been sparsely explored with only 600 kilometers of older vintage seismic data. A nearby water well had significant shows of oil and gas demonstrating an active petroleum system. The acquisition of at least 1000 kilometers of new seismic data and the drilling of one exploration well is planned for 2011.

Block Summaries

Country

Concession

Acreage

WI

Mali	7	39,804 km²	25%
	11	32,810 km²	25%

August 31, 2011 Share Capital

Authorized Share Capital: Issued and Outstanding Unlimited number of common shares without par value 213,861,406 Outstanding Options No. of Optioned Shares Expiry Date Exercise Price(Cdn) 1,045,000 Mar 31, 2011 $1.18 91,668 May 3, 2012 $1.62 140,000 Aug 18, 2012 $1.05 402,500 Sept. 14, 2012 $0.89 100,000 Sept. 28, 2012 $1.00 1,284,167 April 7, 2013 $1.13 2,277,000 Jan. 26, 2014 $2.10 400,000 Mar. 14, 2014 $1.85 300,000 Mar. 31, 2014 $1.94 100,000 Apr 20, 2014 $1.88 100,000 Dec 17, 2015 $1.13 65,000 May 30, 2014 $1.69 40,000 Dec. 18 2014 $1.50 50,000 July 4, 2014 $1.70 50,000 Aug. 29, 2014 $1.27 Total 6,445,335 OUTSTANDING WARRANTS No. of Warranted Shares Expiry Date Exercise Price(Cdn) 6,521,601 May 8, 2012 $1.50 Summary Assuming all of the outstanding options and warrants are exercised, the fully diluted share position of the Company would be as follows: Fully Diluted Share Position 226,828,342 shares Total Shares 213,861,406 shares Total Options & Warrants Exercised 12,966,936 shares

Contact: Africa Oil Corporation
Suite 2101 - 885 West Georgia Street
Vancouver, British Columbia
Canada V6C 3E8
Telephone: (604) 689-7842
Fax: (604) 689-4250


Email: africaoilcorp@namdo.com



Presentations:

http://www.africaoilcorp.com/i/pdf/2012-11_AOIP.pdf

http://www.africaoilcorp.com/i/pdf/Opening-A-New-Oil-Frontier-in-East-Africa-November-2012.pdf

http://www.africaoilcorp.com/i/pdf/SurroundedByOil-Oct2011.pdf

http://www.africaoilcorp.com/i/pdf/Presentation-Oct2011.pdf

http://www.africaoilcorp.com/i/pdf/AOI-Hunting-Elephants-October-2011.pdf


Currency calculation

http://www.xe.com/ucc/



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Africa Oil Corp. (PC (AOIFF) 8.1991 ▲ 0.3791 (4.85%) Volume: 38,514 @ 3:57:11 PM ET Bid Ask Day's Range 8.1 8.18 7.8474 - 8.369 AOIFF Detailed Quote Wiki