Africa Oil Corp.

Africa Oil Corp.

May 31, 2012 16:27 ET

Africa Oil Annual Meeting Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 31, 2012) - Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Corporation") is pleased to report that at the Corporation's Annual General Meeting held today in Vancouver, shareholders approved all of the resolutions put forward at the meeting, namely:

  1. Approved the consolidated audited financial statements of the Corporation for the year ended December 31, 2011, together with the report of the auditors thereon;
  2. Fixed the number of directors at five (5);
  3. Elected the following directors to hold office until the next Annual General Meeting of the Corporation: Keith Hill, Cameron Bailey, Gary Guidry, Bryan Benitz and John Craig;
  4. Appointed PricewaterhouseCoopers, LLP as auditor of the Corporation to hold office until the next Annual General Meeting, at a remuneration to be fixed by the directors of the Corporation;
  5. Approved an ordinary resolution ratifying and confirming the Corporation's existing 10% Rolling Stock Option Plan, and related matters;

About Africa Oil

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya, Ethiopia and Mali as well as Puntland (Somalia) through its 51% equity interest in Horn Petroleum Corporation. Africa Oil's East African holdings are in within a world-class exploration play fairway with a total gross land package in this prolific region in excess of 300,000 square kilometers. The East African Rift Basin system is one of the last of the great rift basins to be explored. New discoveries have been announced on all sides of Africa Oil's virtually unexplored land position including the major Albert Graben oil discovery in neighbouring Uganda. The Company is listed on the TSX Venture Exchange and on First North at NASDAQ OMX-Stockholm under the symbol "AOI".


Keith C. Hill, President and CEO

Africa Oil's Certified Advisor on NASDAQ OMX First North is Pareto Öhman AB.

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 release.

Contact Information