Africa Energy Corp. provided an operational update on its exploration activities. Block 11B/12B, offshore South Africa: On December 9, 2019, Shearwater GeoServices Holding AS ("Shearwater") commenced an initial 2D seismic program of 3,370 linear kilometers using the Multi-Purpose Vessel SW Cook. The goal of the 2D seismic program is to define the lead and prospect inventory of the large under-explored area in Block 11B/12B to the east of the Paddavissie Fairway. Shearwater has completed approximately 3,300 linear kilometers to date, and the joint venture has increased the scope of the initial program. The additional 2D seismic will focus on the highly prospective areas of interest identified with onboard fast-track processing and recently reprocessed legacy 2D seismic data. On December 29, 2019, Petroleum Geo-Services ASA ("PGS") commenced the second phase 3D seismic program of 2,200 square kilometers using the PGS Apollo seismic vessel. In this second phase of 3D seismic work, the joint venture plans to cover the remainder of the Paddavissie Fairway, including a vast extension to the north, to better delineate the prospects and leads identified on the previous 2D and 3D data. PGS has completed approximately 540 square kilometers to date. Block 11B/12B is located in the Outeniqua Basin 175 kilometers off the southern coast of South Africa. The block covers an area of approximately 19,000 square kilometers with water depths ranging from 200 to 1,800 meters. The Paddavissie Fairway in the southwest corner of the block includes the Brulpadda oil and gas discovery, as well as several large submarine fan prospects that have been significantly de-risked by the discovery and subsequent 3D seismic work. Block 2B, offshore South Africa: Management continues its efforts to farmout a portion of the Company's interest in Block 2B in order to drill an additional exploration well in 2020. The planned well would test the up-dip extent of a rift basin oil play proven by the A-J1 oil discovery in 1988. Block 2B is located in the Orange Basin and covers 3,604 square kilometers off the west coast of South Africa approximately 300 kilometers north of Cape Town with water depths ranging from 50 to 200 meters. PEL 37, offshore Namibia: The PEL 37 joint venture recently received a one-year extension to the Second Renewal Exploration Period until March 21, 2021. Several operators in Namibia are planning nearby exploration wells this year that could de-risk the remaining PEL 37 prospects. PEL 37 covers 17,295 square kilometers in the Walvis Basin offshore Namibia approximately 420 kilometers south of the Angolan-Namibian border. Water depths over PEL 37 range from 400 to 1,500 meters. Africa Energy holds an effective 10% interest in PEL 37. The Company owns one-third of Pancontinental Namibia (Pty) Limited, which holds a 30% participating interest in PEL 37. The other joint venture partners in PEL 37 are Tullow Namibia Limited, the operator with 35% participating interest, ONGC Videsh Limited with 30% participating interest and Paragon Oil and Gas (Pty) Limited with 5% participating interest.