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Africa Oil Releases its Year-End 2019 Statement of Reserves

All dollar amounts in this press release are USD unless otherwise indicated.VANCOUVER, March 26, 2020 /CNW/ -A (AOIa??TSX, AOIa??Nasdaq-Stockholm) a?? Africa Oil Corp. ("Africa Oil" or the "Company") is pleased to announce the posting of its end of 2019 statement of reserves on SEDAR (www.sedar.com). This disclosure is based on an independent reserves evaluation, effective 31 December 2019, prepared by Lloyd's Register ("LR") for Africa Oil in accordance with Canadian National Instrument 51-101 a?? Standards for Oil and Gas Activities ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook"). View PDF version.Africa Oil's statement of reserves is based on the Company's 50% ownership interest in Prime Oil & Gas B.V. ("Prime"). The primary assets of Prime are an indirect 8% interest in Oil Mining Lease ("OML") 127 and an indirect 16% interest in OML 130; both are deepwater Nigeria concessions. OML 127 is operated by the affiliates of Chevron Corporation ("Chevron") and contains the producing Agbami field. OML 130 is operated by affiliates of TOTAL S.A. ("TOTAL") and contains the producing Akpo and Egina fields.The reserves and changes to reserves summarised in the following table pertain to 50% of Prime's net entitlement reserves1:

Net Entitlement Reserves2
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