Simba Essel Energy Inc SMBZF

Africa Oil Spuds well in block 10BB

[Hultholm]

Let's hope they hit the motherload :)

 

January 25, 2012 (AOITSXV, AOINASDAQ OMX) Africa Oil Corp. (Africa Oil
or the Company) is pleased to announce the spudding of the Ngamia-1 well on
Block 10BB, Kenya. Tullow Oil plc is the operator with a 50% working
interest and Africa Oil holds the remaining 50%. Please see attached map.

The Ngamia-1 well will be drilled to a projected depth of 2,700 meters to test
the oil potential in Miocene age sandstones. The well is located in the
Lokichar basin, a north-south trending rift basin that is part of the East
African Rift System. Live oil was encountered in the Lokichar basin by the
Loperot-1 well which was drilled in 1992 and recovered 29 degree API crude
from Miocene sandstones.

The Ngamia-1 well will test a prospect that is similar to oil prospects
drilled by Tullow and its partners early in the exploration efforts in the
Lake Albert Rift Basin of Uganda. Drilling and evaluation of the well is
expected to take between 60 and 90 days. A number of prospects and leads have
been mapped and would be prospective following a success of the Ngamia
prospect. The Ngamia-1 will be the first well drilled on the block by the
partnership and will mark the start of a multi-well drilling program in Block
10BB and adjacent blocks.

Keith Hill, President and CEO of Africa Oil, commented, We are very excited
to be drilling our first well with Tullow. Theyve had enormous success with
the Lake Albert Rift Basin project where in excess of 1 billion barrels have
been discovered and this shares many geological similarities with our Kenyan
assets. Our Ngamia prospect could be a play opener for another great success
in the region.