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Great news from Octant Block 1 activity and drill planned

[yycblackgold]

April 19, 2017 Calgary, Alberta - Octant Energy Corp. (the Corporation or Octant) has completed the acquisition of Block L17/L18 and Block 1 in Kenya from a subsidiary of Afren plc (Afren). Block L17/L18 is located onshore and offshore in the Lamu coastal basin in the southeastern part of the country. The 100% owned block covers an area of approximately 4,905 km2. Approximately 5123 kms of 2D Seismic, 2500 kms of Gravity & Magnetics and 1626 km2s of 3D Seismic have already been acquired in this block. Kenyas largest port, and the idled Kenya Petroleum Refinery, are located on this block at Mombasa and offers several options for product export from this highly regarded property. Further encouragement was provided by the highly significant Sunbird-1 oil discovery, made by British Gas (now Shell) in 2014, just a short distance away. With the comprehensive seismic and other geological data in hand, Octant intends to move quickly to drill an exploration well on Block L17/L18 as soon as practicably possible. Block 1 is located on the western margin of the Mandera-Lugh basin and is comprised of an area of 22,250 km2 with 1900 kms of 2D Seismic already completed on this block. Octant operates Block 1 with an 80% working interest and will restart the exploration programme for Block 1 with a small 2D seismic survey before moving to drill our first exploration well. Octant President and CEO, Rick Schmitt, oversaw acquisition and early development of these same blocks while he was President and CEO of Black Marlin Energy Holdings Ltd., prior to its sale to Afren in October 2010. Rick Schmitt comments, I am extremely happy to be returning to these assets, formerly held by Afren and Black Marlin. In the period since Afren acquired these assets from Black Marlin, the environment in Kenya has been transformed by the first commercial oil discoveries. Moreover, information from neighbouring operators has provided only encouragement. We look forward to the potential of exploration drilling in Kenyas world class basins and to follow the exploration success other companies have had there.