Kindly find attached todays AOI news release. Please contact me...

Kindly find attached todays AOI news release. Please contact me with any questions.
Best regards,
Sophia Shane, +1 604 689 7842

AFRICA OIL CLOSES FINAL TRANCHE OF $25 MILLION PRIVATE PLACEMENT

July 26, 2010 (AOI TSXV) Africa Oil Corp. (Africa Oil or the Company) is pleased to announce that it has closed the second and final tranche of the $25 million private placement, previously announced on July 9, 2010. The second tranche, comprising 3,605,010 common shares, issued at $1.00 per common share, has been released to the investors. These shares are subject to a hold period expiring on November 27, 2010.

A 5% finders fee, payable in cash or shares, will be paid on a portion of the private placement.

Net proceeds of the private placement will be used towards the Companys ongoing work program in East Africa as well as for general working capital purposes.

The private placement has been conditionally accepted by the TSX Venture Exchange.
FORWARD-LOOKING STATEMENTS
Certain statements made and information contained herein constitute forward-looking information (within the meaning of applicable Canadian securities legislation). Such statements and information (together, forward looking statements) relate to future events or the Companys future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities, ultimate recovery of reserves or resources and dates by which certain areas will be explored, developed or reach expected operating capacity, that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.


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