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AFRICA OIL ANNOUNCES SHARE CAPITAL

VANCOUVER, BC, Apr 30, 2025 (CNW Group via COMTEX) --

(TSX: AOI) (Nasdaq-Stockholm: AOI) â?? Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") reports the following share capital and voting rights update in accordance with the Swedish Financial Instruments Trading Act. View PDF version

As a result of the issuance of 762,907 common shares due to a residual settlement of performance share units, triggered by the completion of the amalgamation to consolidate all of the Prime Oil & Gas Coà¶peratief U.A shareholding in Africa Oil, the Company has 675,436,334 common shares issued and outstanding with voting rights as at April 30, 2025.

About Africa Oil

Africa Oil is a full-cycle Independent upstream oil and gas company with interests offshore Nigeria, Namibia, South Africa and Equatorial Guinea. Its main assets are producing and development assets in deepwater Nigeria operated by Majors. The Company holds a leading position in the Orange Basin including its effective interest in the Venus light oil project, offshore Namibia, and its direct interest in Block 3B/4B, offshore South Africa. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol "AOI".

Additional Information

This information is information that Africa Oil is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out above, at 5:00 p.m. EDT on April 30, 2025.

SOURCE Africa Oil Corp.

SOURCE: Africa Oil Corp.

For further information, please contact: Shahin Amini, Head of Investor Relations and
Communications, shahin.amini@africaoilcorp.com, T: +44 (0) 20 8017 1511; Burson
Buchanan, Financial PR & Communications Advisor, Energy@Buchanan.uk.com, T: +44 (0)20
7466 5000
comtex tracking

COMTEX_465084498/2197/2025-04-30T17:00:00

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