February 22, 2011 (AOI – TSXV, AOI - NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that it has now closed on the final two blocks out of the previously announced five block farmout transaction with Tullow Oil plc (“Tullow”). The Company and Tullow have now closed farmouts related to the South Omo Block (Ethiopia) and Blocks 10A, 10BB, 12A and 13T (Kenya). Tullow has assumed the role of operator on all of these blocks. The resulting interests in the five blocks are as follows:
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Tullow paid an aggregate of US$1,686,432 to Africa Oil to acquire its interest in Blocks 12A and 13T. Each party will be responsible for its working interest share of future joint venture expenditures in these blocks.

Keith Hill, Africa Oil’s President and Chief Executive Officer, commented, “We are pleased to have completed our multi-block transaction with Tullow, who have arguably been the most successful exploration company in Africa,...