Africa Oil Corp. (“Africa Oil”, “AOC” or the
“Company”) announced on June 24, 2024, that it had entered into a definitive agreement with BTG
Pactual Oil & Gas S.a.r.l. (“BTG Oil & Gas”) and BTG Pactual Holding S.à r.l., to consolidate their
respective shareholdings in Prime Oil & Gas Coöperatief U.A (the “Amalgamation”). A Swedish
prospectus regarding the admission to trading on Nasdaq Stockholm of 239,828,655 new common
shares issued to BTG Oil & Gas as part of the Amalgamation has today been approved by and
registered with the Swedish Financial Supervisory Authority (the “SFSA”) (Sw. Finansinspektionen).
The prospectus is available on Africa Oil’s website (www.africaoilcorp.com) and will be available on the
SFSA’s website (www.fi.se). For complete information about the Amalgamation and the admission to
trading of the new common shares on Nasdaq Stockholm, please refer to the prospectus.
