Zebra Holdings and Investments (Guernsey) Limited Acquires Shares of Africa Energy Corp.

ST. PETER PORT, GUERNSEY--(Marketwired - Jan. 4, 2016) - Zebra Holdings and Investments (Guernsey) Limited, a company controlled by a trust settled by the late Adolf H. Lundin, announces that it entered into a subscription agreement effective December 31^st, 2015 pursuant to which it will acquire by way of private placement directly from Africa Energy Corp. (TSX VENTURE:AFE) 37,963,750 common shares for a consideration of approximately USD 0.0435 (CAD 0.06) per common share. Upon completion of this acquisition, Zebra will hold 47,076,544 common shares representing approximately 19.26% of the issued capital of Africa Energy following completion of the proposed private placement announced by Africa Energy on December 16, 2015.

Zebra has acquired the shares for investment purposes and may from time to time increase or decrease its investment in Africa Energy depending upon the business and prospects of Africa Energy and depending upon future market conditions.

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.