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Africa Oil Annual Meeting Update

VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 05/08/12 — Africa Oil Corp. (TSX VENTURE: AOI)(OMX: AOI) (“Africa Oil” or the “Corporation”) announces that further to the news release dated April 10, 2012, the Annual General Meeting of Africa Oil will be held at the Rosewood Hotel Georgia, 801 West Georgia Street, Vancouver, B.C., on Thursday, May 31, 2012 at 10:00 a.m. Vancouver time for the following purposes:

The record date for the Annual General Meeting is April 26, 2012.

Mr. Keith Hill, President and CEO, will present an update on the Corporation–s operations and be available to answer any questions.

About Africa Oil

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya, Ethiopia and Mali as well as Puntland (Somalia) through its 51% equity interest in Horn Petroleum Corporation. Africa Oil–s East African holdings are in within a world-class exploration play fairway with a total gross land package in this prolific region in excess of 300,000 square kilometers. 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 Albert Graben oil discovery in neighbouring Uganda. The Company is listed on the TSX Venture Exchange and on First North at NASDAQ OMX-Stockholm under the symbol “AOI”.

ON BEHALF OF THE BOARD

Keith C. Hill, President and CEO

Africa Oil–s Certified Advisor on NASDAQ OMX First North is Pareto Ohman AB.

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.

Contacts:
Africa Oil Corp.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)

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