Africa Energy Corp. announced the arrival of the Island Innovator semi-submersible drilling rig on Block 2B and the commencement of operations on the Gazania-1 exploration well offshore South Africa. The Gazania-1 exploration well is being drilled in approximately 150 meters of water by the Island Innovator semi-submersible rig to a total depth of approximately 2,800 meters subsea.

The well will target two large prospects in a syn-rift basin, similar to the major oil accumulations discovered by Africa Energy's technical team in Uganda and Kenya. In the event of success at Gazania-1, the joint venture partners have the option to directionally drill a sidetrack to target a third prospect. Both the Gazania-1 well and the potential sidetrack will be logged and then plugged with no equipment remaining on the sea floor.

Africa Energy has a 27.5% participating interest in Block 2B offshore South Africa. The block is operated by a subsidiary of Eco (Atlantic) Oil & Gas Ltd., which holds a 50% participating interest. A subsidiary of Panoro Energy ASA holds a 12.5% participating interest, and Crown Energy AB indirectly holds the remaining 10%.