AFRICA OIL RANKED NUMBER ONE ON TSX VENTURE 50

February 13, 2013 (AOI–TSXV, AOI–NASDAQ OMX) … Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that it has achieved the number one ranking on the TSX Venture 50 for 2012. TSX Venture 50 is a ranking of strong performers on the TSX Venture Exchange with measurements including share price performance, market cap growth, trading volume and analyst coverage, etc.

Keith Hill, President and CEO of Africa Oil, commented, “With over 2,200 companies listed on the TSX Venture Exchange, we couldn’t be more proud to be ranked number one overall and also number one in the oil and gas subset. Our new oil discoveries in Kenya have garnered world-wide attention, allowing us to deliver a 342% return over the course of the year and attract coverage from 18 oil and gas analysts. We look forward to another successful year in 2013.”