Africa Hydrocarbons Inc.
TSX VENTURE : NFK

Africa Hydrocarbons Inc.

June 10, 2013 09:00 ET

Africa Hydrocarbons Announces Spudding of the BHN-1 Well in Tunisia

CALGARY, ALBERTA--(Marketwired - June 10, 2013) - Africa Hydrocarbons Inc. (TSX VENTURE:NFK) ("AHI" or the "Company") is pleased to announce the commencement of drilling the BHN-1 well on the Bouhajla Permit in Tunisia. The well spudded on June 8, 2013 and is currently drilling surface hole at a depth of approximately 325 metres. BHN-1 is the first exploration well on the Bouhajla Permit, and is planned to be drilled to a total depth of 2,545 metres in order to evaluate a Cretaceous Abiod oil target on the Bouhajla North prospect. The well is expected to take four to six weeks to reach total depth.

"We are excited our first high impact well in Tunisia is now drilling ahead. This key well will provide significant information related to the hydrocarbon potential on our acreage and the future success of the Company," said John Nelson, President & CEO of Africa Hydrocarbons.

The Bouhajla North prospect, delineated on 3D seismic acquired in 2012, is geologically analogous to the Sidi el Kilani oilfield, which has produced approximately 48 million barrels of light oil to date. Sidi el Kilani is located twenty-five kilometers to the east of the Bouhajla North prospect.

About the Company

AHI is a Canadian-based international oil and natural gas company involved in the acquisition, exploration and development of energy assets, with an emphasis on Africa. The key asset of the Company is its 47.5% owned Bouhajla Block, located onshore in Tunisia within the productive Pelagian Basin.

ON BEHALF OF THE BOARD OF AFRICA HYDROCARBONS INC.

John Nelson, CEO

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "schedule", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Company's future operations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning equipment and crew availability and joint venture partner financial capability. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the Company's actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, reservoir performance, labour, equipment and material costs, access to capital markets, interest and currency exchange rates, and political and economic conditions. Additional information on these and other factors is available in continuous disclosure materials filed by the Company with Canadian securities regulators. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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 News Release.

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