Africa Oil Adds New Board Member

Africa Oil has announced the appointment of Mr. Bryan Benitz to the Board of Directors.

Brian Benitz brings over 40 years of financial markets expertise and investment banking experience to the Company. He graduated from Fettes College in Edinburgh, Scotland in 1951 and received his early investment banking training at Wisener & Company in Canada.

As a result of mergers in the early 1970's Walwyn Stodgell Cochran Murray was created, a large investment banking firm headquartered in Toronto. Mr. Benitz, as Director, was the Member Seatholder of both the New York and Toronto Stock Exchanges and held responsibility for the international business of the firm.

In 1982 he returned to England with Walwyn Stodgell and created Benitz and Partners in 1988. The firm specialized in corporate finance, raising risk capital for natural resource companies.

Throughout his career Bryan Benitz has been closely linked with the petroleum industry, particularly in Canada. Most recently, he was a senior board member of Tanganyika Oil, which was the subject of a highly successful $2.1 billion takeover by Sinopec. He is currently a director and Chairman of MagIndustries Corp.

The Company also announces that it has granted an aggregate of 100,000 incentive stock options to a director of the Company. The options are exercisable, subject to vesting provisions, over a period of three years at a price of $1.00 per share.


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