REG-Africa Oil Exploration PLC: Interim Results

AFRICA OIL EXPLORATION PLC
("Africa Oil" or "the Company")
PLUS SYMBOL: AOEP

Unaudited Interim Results for the six months to 31 May 2009

Following a challenging period for the Company, I wish to report the interim
results for the six months to 31 May 2009. During the period Africa Oil has
sought to realise value from its investment in Wilton Petroleum and is
currently seeking opportunities for the future development of the Company.

Africa Oil continues to hold a 9.7% interest in Wilton Petroleum, which was
acquired in April 2008. This investment has not provided the Company with
successful results to date due to the difficulty faced by Wilton Petroleum in
raising finance to develop its existing assets and to secure further investment
opportunities.

The call option between the Company and the other Wilton Petroleum shareholders
for the acquisition of the remaining 90.3% of Wilton Petroleum was not
exercised. The Directors decided to let the call option lapse on its expiry in
December 2008 as they felt that the terms of the option agreement could no
longer be supported due to the significant fall in commodity prices during the
period and Wilton Petroleum's inability to secure any significant new business

Wilton Petroleum continues to progress the technical evaluation of its 100%
interest in Block 2102 onshore Madagascar. This has resulted in the
identification of several shallow targets in addition to the Anjohibe prospect,
which an independent Competent Persons Report estimates to contain mean
unrisked prospective oil resources of 265 million barrels or mean unrisked
prospective gas resources of 1,416 billion cubic feet.

Wilton Petroleum continues to seek farmout partners and financing to mitigate
risk and cover ongoing costs. To date, no opportunities for a farmout or
financing have been secured. The directors of the Company have therefore
decided to continue carrying a provision of £746,305 to reflect the reduction
in the value of their investment in Wilton Petroleum.

In view of the Company's reduced expectations on the realisable value from its
investment in Wilton Petroleum, the directors have investigated several
opportunities throughout the period to secure an alternative future for the
Company. We continue to evaluate a number of these opportunities that offer the
Company the potential for growth and a route to enhance shareholder value.

The Company is reporting a loss before tax of £36,759 for the six months to 31
May 2009, equating to a basic loss per share of 0.51p. At 31 May 2009 the
Company held cash balances of £124,668

The Company will continue to evaluate options that offer the potential for
growth and we look forward to updating the market in the near future on
opportunities for progressing the Company and realising value from the
investment in Wilton Petroleum.

AFRICA OIL EXPLORATION PLC

UNAUDITED RESULTS FOR THE 6 MONTHS TO 31 MAY 2009

PROFIT AND LOSS ACCOUNT

PERIOD TO PERIOD TO
31/05/2009 31/05/2008
£ £

TURNOVER - -

Administrative expenses (38,578) (114,041)
_________ _________

OPERATING LOSS (38,578) (114,041)

Interest receivable and similar income 1,819 12,140
_________ _________

LOSS ON ORDINARY ACTIVITIES (36,759) (101,901)

BEFORE TAXATION

Tax on loss on ordinary activities - -
_________ _________

LOSS FOR THE FINANCIAL PERIOD (36,759) (101,901)

AFTER TAXATION
_________ _________

Basic loss per share (0.5089p) (2.2618p)

Notes

1. The financial information for the period ended 31 May 2009 has not been
audited and does not constitute statutory accounts within the meaning of
Section 434 of the Companies Act 2006. It has however been subject to a
review by the company's auditors.

2. Basic loss per share has been calculated using the weighted average number
of shares of 7,223,325 (2008 - 4,505,288).

The Directors of the Issuer accept responsibility for this announcement.

--ENDS--

Enquiries:

AFRICA OIL EXPLORATION TEL: 020 7550 4927
David Carr

RIVINGTON STREET CORPORATE FINANCE TEL: 020 7562 3389
Eran Zucker
Eran@rs-cf.com

END