Africa Hydrocarbons Inc.
TSX VENTURE : NFK

Africa Hydrocarbons Inc.

July 10, 2012 11:52 ET

Africa Hydrocarbons Provides Operations Update, Grants Stock Options and Announces Launch of New Corporate Website

CALGARY, ALBERTA--(Marketwire - July 10, 2012) - Africa Hydrocarbons Inc. (TSX VENTURE:NFK) ("AHI" or the "Company") is pleased to announce operations in Tunisia continue toward a proposed September commencement date for the drilling of the BHN-1 well to test the Bouhajla North prospect, a fractured Abiod formation chalk play. The operator, Dualex Energy International Inc., has indicated drilling rig tenders have been received and ancillary services tenders have been delivered to the various suppliers. Long-lead items such as tubulars have been ordered and are expected to arrive in-country in August. Geophysical work is also underway to finalize planning of a 3D seismic survey to be recorded over the Ktittir structure on lands that were recently added to the Bouhajla permit.

The Company also announces the grant of 2,000,000 incentive stock options to certain directors and officers of the Company, subject to all necessary approvals. The options are exercisable for up to three years at an exercise price of $0.18.

The Company is also pleased to announce the launch of its new corporate website located at http://www.africahydrocarbons.com. The website provides visitors with a comprehensive source of information about the Company and its assets. Stakeholders can also learn about the history of the Company and its management team, as well as stock information and regulatory filings.

John Nelson, CEO of AHI, states, "We are proud to launch our new website which offers a user-friendly interface and streamlined navigation to enhance communications with current and prospective shareholders as we continue to work toward the drilling of the BHN-1 well."

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. The Company recently completed 55 km2 of 3D seismic and a successful financing to drill the Bouhajla North oil prospect.

Forward Looking Statements

Certain information set forth in this press release contains forward looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", may", "will", "project", "should", "believe" and similar expressions are intended to identify forward looking statements. By their nature, forward looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including the receipt of third party approvals, including shareholder and regulatory approvals, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve or resource estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources.

Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking statements. Actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements. No assurance can be given that any of the events anticipated will transpire or occur, or if any of them do so, what benefits will derive from them. Except as required by applicable securities laws, AHI disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

ON BEHALF OF THE BOARD OF AFRICA HYDROCARBONS INC.

John Nelson, CEO

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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