Proposed Acquisition of Ardan Logistics Kenya

Africa Oilfield Logistics Limited / Ticker: AOL / Index: AIM / Sector: Support Services

26 September 2014

Africa Oilfield Logistics Limited ('Africa Oilfield' or the 'Company')

Proposed Acquisition of Ardan Logistics Kenya Limited, Proposed Change of Name,

Posting of Admission Document, Notice of General Meeting

& Board Changes

Africa Oilfield Logistics Ltd (AIM: AOL), the AIM listed African focussed support services and logistics company, is pleased to announce that the Board has decided to exercise the call option ('Call Option') granted to it pursuant to the framework and option agreement announced on 28 March 2014 ('Framework and Option Agreement'), to acquire the entire issued share capital of Ardan Logistics Kenya Limited ('ALK') (the 'Acquisition').

Exercise of the Call Option constitutes a reverse takeover under the AIM Rules and is therefore conditional, inter alia, on shareholder approval which will be sought at a general meeting to be held at 12.00 p.m. on 22 October 2014 at Richmond House, St Julian's Avenue, St Peter Port, Guernsey GY1 1GZ (the 'General Meeting'). At the General Meeting, shareholder approval will also be sought to change the Company's name to "Atlas Development & Support Services Limited" and to make certain amendments to the Company's articles of incorporation (together, the 'Resolutions').

An admission document setting out information on the Company and its subsidiaries, its businesses and strategy, the background to and reasons for the acquisition of ALK and details of the Resolutions (the 'Admission Document'), together with notice of the General Meeting, has been posted to shareholders and is also available on the Company's website (www.africaoilfieldlogistics.com).

As part of the readmission process, the Company also announces the resignations of Mr Phil Edmonds and Mr Andrew Burns from the board - with Mr Ian Mann taking up the position of Chairman - together with the appointments of Mr Lachlan Monro as Chief Operating Officer and Mr Barry Lobel as Chief Financial Officer, with immediate effect.

Mr Lobel (age 35) is a qualified accountant with extensive experience in finance and emerging markets. He joined AOL in April 2014 having previously been Director of Finance at Partners Capital LLP, a $13bn global private investment office. In addition, he worked in Finance and Private Equity at RP Capital Group, an emerging markets hedge fund, and previously founded and sold Avocado Trading, a retail business across Southern Africa. Mr Lobel has not held any directorships or partnerships in the last 5 years.

Mr Monro (age 41) joined AOL in January 2014 having previously been Principal and COO of Blue Hackle Group LLC, a leading international risk management and support services company operating in US, Middle East and East Africa. He was also a director at Kroll Associates and a former British army officer.

There is no further information on Mr Lobel or Mr Monro required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

Carl Esprey, Chief Executive Officer of Africa Oilfield, said: "East Africa, our area of strategic focus, is rapidly becoming an economic centre and a hub of continental growth, fuelled to a large extent by the rapid development of resource assets in the region. Through our initial investment into Ardan in August 2013 we provided shareholders with exposure to this sector through Ardan's high quality support services offering, targeted towards blue chip oil & gas and mining exploration, development and production companies.

"Building on a solid and cash generative business platform, we have helped to oversee a comprehensive restructuring and rationalisation programme undertaken by Ardan, which has delivered tangible material benefits. Ardan's unaudited revenues for the six month period ended 30 June 2014 increased significantly to $20.6 million compared with the previous full year result to 31 December 2013 of $22.5 million. This was a tremendous achievement and demonstrates the considerable upside that can be achieved through the professionalised and rationalised business structure.

"The acquisition of the entirety of Ardan's operations is the next step in the Company's objective of becoming the leading professional, efficient and profitable turn-key development and support services group in sub-Saharan Africa. Under the new branding of "Atlas Development & Support Services", we intend to take a joined-up approach to the expansion and delivery of our industry-leading services, extending the current contract base, new business pipeline and geographic reach of operations and further enhancing the revenue generation of the Group."

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For further information please visit www.africaoilfieldlogistics.com or contact: