SINGAPORE, Oct. 29, 2013 /CNW Telbec/ – The Chandler Corporation
announced today that Jasmine Capital Investments Pte. Ltd. (“Jasmine”)
has on 28 October 2013, acquired beneficial ownership of 6,905,000
common shares (the “Purchased Shares”) of Africa Oil Corp. (the
“Issuer”) at a price of SEK 51.75 per Purchased Share, or approximately
Cdn$8.53 per Purchased Share, based on the Bank of Canada’s noon
exchange rate on 28 October, 2013. The Purchased Shares were purchased
pursuant to a brokered private placement (the “Offering”).

The Purchased Shares represent approximately 2.23% of the issued and
outstanding common shares of the Issuer (based on 309,470,323 issued
and outstanding common, taking into account the common shares issued to
investors pursuant to the Offering). As a result of this purchase,
Jasmine’s shareholding in the Issuer is now an aggregate of 31,866,828
common shares, which represents approximately 10.30% of the common
shares of the Issuer that are issued and outstanding immediately
following the Offering.

As a result of this acquisition and pursuant to applicable Canadian
securities laws, each of Chandler Holdings Limited (“CHL”), CHL’s sole
shareholder, Chandler Corporation (“CC”), CC’s sole shareholder, Athena
Holdings Limited (in its capacity as trustee of the Chandler Group
Trust, a discretionary trust) and CHL’s direct wholly-owned subsidiary,
Chandler Capital Pte. Limited (“CCPL”) (which owns all of the shares of
Jasmine), is deemed to beneficially own the Purchased Shares. CHL
exercises control and direction over the Purchased Shares.

The Purchased Shares were acquired in the ordinary course of business
for investment purposes. Jasmine, CCPL, CHL, CC and Athena Holdings
Limited (in its capacity as trustee of the Chandler Group Trust, a
discretionary trust) may, from time to time and at any time, subject to
applicable securities laws, acquire additional common shares of the
Issuer and/or other equity, debt or other securities or instruments
(collectively, “Securities”) of the Issuer in the open market or
otherwise may dispose of any or all of its Securities in the open
market or otherwise, at any time and from time to time, and engage in
any hedging or similar transactions with respect to the Securities, in
each case subject to applicable securities laws.

About the Chandler Corporation
The Chandler Corporation is an international investment group founded by
New Zealand entrepreneur Richard F. Chandler. Since 1986, the Chandler
Corporation has invested globally in public and private equity, across
a range of industry sectors including, financial services, and
healthcare. The Chandler Corporation distinguishes itself through its
understanding of market cycles, value, and risk, bringing a long-term
perspective to all of its investments. The Chandler Corporation also
places a special emphasis on supporting corporate governance and
responsible investment as crucial elements of business sustainability
and increasing stakeholder value.

Further Information
A copy of the report prepared in connection with the matters disclosed
herein in accordance with applicable Canadian securities laws will be
available at www.sedar.com.
For more information, please visit: www.chandlergroup.com

SOURCE Chandler Corporation