Africa Oil Completes Acquisition of Centric Energy Adding Highly Prospective Blocks to Its Existing Africa Portfolio

- February 23rd, 2011

Africa Oil Corp. (CVE:AOI) acquires all of the issued and outstanding common shares of Centric Energy Corp. (CVE:CTE).

Africa Oil Corp. (TSXV:AOI) acquires all of the issued and outstanding common shares of Centric Energy Corp. (TSXV:CTE).

The press release is quoted as saying:

Pursuant to an acquisition agreement, previously announced November 29, 2010, Africa Oil acquired all of the issued and outstanding shares of Centric in consideration for 0.3077 Africa Oil shares and $0.0001 for each common share of Centric. Under these terms, Africa Oil issued 30,155,524 common shares and paid an aggregate of $9,842.00 to complete the acquisition.

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