Mr. Jeromie Kufflick reports

AFRICA ENERGY CORPORATE UPDATE

Africa Energy Corp. has granted incentive stock options to certain directors, officers, employees and other eligible persons of the company to acquire 19.18 million shares of the company at an exercise price of 17 cents per share. The options are exercisable, subject to vesting provisions, over a period of five years.

About Africa Energy Corp.

Africa Energy is a Canadian oil and gas exploration company focused on South Africa. The company is listed in Toronto on the TSX Venture Exchange (ticker AFE) and in Stockholm on Nasdaq First North Growth Market (ticker AEC). Africa Energy is part of the Lundin group of companies.