Monday 12 March 2018

Africa Oil Corp. announced that it has completed the previously announced investment in Impact Oil and Gas Limited, a private UK company with exploration assets in South and West Africa.

In connection with the Investment, the Company issued 13,946,545 common shares in the capital of the Company to Helios Natural Resources 2 Limited and invested US$15 million in shares and warrants of Impact. Africa Oil owns an approximate 25.2% equity interest in Impact.