VANCOUVER,
BRITISH COLUMBIA--(Marketwire - Nov. 9, 2009) - Africa Oil Corp. (TSX
VENTURE:AOI) ("Africa
Oil" or "the Company") is pleased to announce that the Bogal-1 oil exploration
well on Block 9 operated by
CNOOC Limited in the Republic of
Kenya spudded on October 28, 2009. The well is expected to reach total depth of
5,500 meters within approximately 6 months.
Block 9 covers an
area of 27,778 square kilometers in the centre of the Anza Basin. The Anza
Basin is a NW-SE trending rift basin along trend with the prolific Mesozoic
play of southern Sudan. The basin is over 580 kilometers long and 150
kilometers wide with a potential prospective area in excess of 50,000 square
kilometers. The basin is filled in places with more than 6,000 meters of
Mesozoic and Cenozoic sediments and locally by Plio-Pleistocene basalts. Bouger
and residual gravity anomalies have highlighted several sub-basins separated by
intra-basin highs. Historic wells drilled in the block have proven the
existence of natural gas and possibly oil.
The Company currently
holds a 30% working interest in Block 9. CNOOC Limited is the operator.
Comments from Keith
Hill, President and CEO:
"The Bogal well
will be testing a new play concept that has the potential to change how
technical workers have previously interpreted East Africa and the potential to
place the Republic of Kenya into the ranks of African oil and gas producers.
The on-time spud of Bogal reflects tremendous effort and coordination by
Operator, CNOOC
Limited,
and we applaud their efforts to date. I look forward to positive results over
the next few months".
Africa
Oil Corp. is a Canadian oil and gas company with assets in Kenya, Somalia and
Ethiopia. Africa
Oil's East African holdings are in what is considered a truly world-class
exploration play fairway. The Company's total gross land package in this
prolific region is in excess of 200,000 square kilometers - an area roughly the
size of Great Britain. The East African Rift Basin system is one of the last of
the great rift basins to be explored. New discoveries have been announced on
all sides of Africa Oil's virtually unexplored land position including the
major Heritage/Tullow Albert Graben oil discovery in neighboring Uganda.
Similar to the Albert Graben play model, Africa Oil's concessions have older
wells, a legacy database, and host numerous oil seeps indicating a proven
petroleum system. Good quality existing seismic show robust leads and prospects
throughout Africa Oil's project areas. The Company is listed on the TSX
Venture Exchange under the symbol "AOI".
ON BEHALF OF THE
BOARD
"Keith Hill"
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.