AFRICA OIL ANNUAL GENERAL MEETING TO BE HELD ON MAY 25, 2023

VANCOUVER, BC, April 26, 2023 /CNW/ - (TSX: AOI) (Nasdaq Stockholm: AOI) - Africa Oil Corp. ("Africa Oil" or the "Company") announces that its Annual General Meeting of Shareholders will be held on Thursday, May 25, 2023 at 10:00 am (Pacific Time) at Suite 2000, 885 West Georgia Street Vancouver, BC, V6C 3E8. View PDF

The purpose of the Meeting is as follows:

AFRICA OIL ANNUAL GENERAL MEETING TO BE HELD ON MAY 25, 2023 (CNW Group/Africa Oil Corp.)

1. To receive the consolidated audited financial statements and accompanying management's discussion and analysis of the Company for the year ended December 31, 2022, together with the report of the auditors;
2. To appoint PricewaterhouseCoopers LLP as auditors of the Company to hold office until the next Annual General Meeting, at a remuneration to be fixed by the directors of the Company;
3. To consider and, if deemed advisable, to approve an advisory resolution to accept the Company's approach to executive compensation; and
4. To elect directors to hold office for the ensuing year.

The record date for the Annual General Meeting of Shareholders was April 14, 2023. The Notice of Meeting, Management Information Circular, and related meeting materials are now available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.africaoilcorp.com.

How to Vote if Your Securities Trade on the Nasdaq Stockholm Exchange

The following information is of significance to shareholders who hold their securities ("Euroclear Registered Securities") through Euroclear Sweden AB, which securities trade on Nasdaq Stockholm. Shareholders who hold Euroclear Registered Securities are not registered holders of voting securities for the purposes of voting at the meeting.  Instead, Euroclear Registered Securities are registered under CDS & Co., the registration name of the Canadian Depositary for Securities. Holders of Euroclear Registered Securities will receive a VIF by mail directly from Computershare AB ("Computershare Sweden").  Additional copies of the VIF, together with the Company's Management Information Circular, can also be obtained from Computershare Sweden and are available on the Company's website (www.africaoilcorp.com).  The VIF cannot be used to vote securities directly at the Meeting.  Instead, the VIF must be completed and returned to Computershare Sweden, strictly in accordance with the instructions and deadlines that will be described in the instructions provided with the VIF.

About Africa Oil

Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria; development assets in Kenya; and an exploration/appraisal portfolio in west and south of Africa, as well as Guyana. 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 EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 5:30 p.m. ET on April 26, 2023.

SOURCE Africa Oil Corp.

Shahin Amini, IR and Commercial Manager, [email protected], T: [phone]