Africa Oil Corp. says that the shareholders of Centric Energy Corp. have approved the acquisition of Centric by Africa Oil. At a special meeting of the Centric shareholders held February 11, 98.7% of the votes cast were in favor of the acquisition. Details of the acquisition are contained in an Information Circular prepared by Centric, which is available on SEDAR under Centric's profile.

Closing of the acquisition remains subject to receipt of regulatory, court and other approvals and other customary conditions precedent and is currently scheduled for February 22nd, 2011. Letters of Transmittal will be mailed to registered shareholders of Centric on or about that date so that they can exchange their Centric shares for shares of Africa Oil on the terms described in the Centric Information Circular.

Africa Oil President and CEO Keith Hill commented, 'We are very pleased with the support shown by the Centric shareholders and look forward to completing the acquisition. Kenya Block 10BA gives Africa Oil exposure to the entire East Africa rift trend and the new play in Mali fits in very well with our African rift basin strategy. We also look forward to an aggressive evaluation and drilling campaign in the next 18 months.'

Tags: Africa Oil Corp., Centric Energy Corp.