REG-Africa Oil Exploration PLC: Notice of General Meeting

12th November 2009

Africa Oil Exploration Plc
("Africa Oil" or the "Company")

Notice of General Meeting

The Board is pleased to announce that it has posted to shareholders a notice
("the Notice") convening a General Meeting ("GM").

The Meeting will be held at 31, Harley Street, London, W1G 9QS on Tuesday 8th
December 2009 at 10 a.m.

The Directors believe that in the current market conditions there is an
opportunity for significant returns over the longer term through investment in
distressed, small to medium sized UK businesses with essentially sound business
models offering recovery prospects. Following a review of the Company's
activities, the Directors of the Company recommend a change in the current
investment strategy of the Company.

The Company's new investment strategy is intended to be a generalist one with
no specific sector, national or regional focus. The Company may be either an
active investor and acquire control of a single company or it may be a passive
investor and acquire non-controlling shares or other assets or businesses as is
considered to be in the best interests of the Company.

The new investment strategy will be implemented through actively identifying
financially distressed targets with essentially sound business models, using
the skills of the Company's corporate adviser to financially restructure the
target with a view to ensuring the long term viability and profitability of the
target's business. The Company, by providing finance to and acquiring an equity
interest in the restructured businesses, will use the technical, operational
and management skills of the Board to enhance the value of the restructured
businesses going forward with a view to eventual disposal of the Company's
equity interests at a gain.

The Directors anticipate that the management of any acquired company or
business will have the expertise required to manage and develop that business,
though they may consider retaining board positions. In certain circumstances,
the Directors will consider bringing in additional specialist knowledge and
advice.

To reflect the proposed repositioning of the Company, it is also proposed to
change the name of the Company to "In-Solve Plc".

The Directors believe that all the resolutions to be considered at the GM are
in the best interests of the Company and its shareholders.

The following has been posted to shareholders:-

1. The Notice of the GM and;

2. Proxy Form

The following documents, which are available for inspection during business
hours at the registered office of the Company on any weekday (public holidays
excluded), will also be available for inspection at the place of the General
Meeting from 9.00 a.m. on the day of the General Meeting until the conclusion
of the General Meeting:

1. the register of interests of directors (and their families) in the share
capital of the company;

2. printed copies of this Notice and the documentation made available to
shareholders.

The Directors of the issuer accept responsibility for this announcement.

--ENDS--

Enquiries:

AFRICA OIL EXPLORATION
Jonathan Bradley-Hoare
Company Secretary
TEL: 020 7467 1700

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