2009-09-25-2009-08-20-2009-08-20

Farmed in to 4 production-sharing contracts, gaining 15% in Somalia contract & 10%, 25%, 20% in 3 Kenya contracts.

Raytec Metals Corp., Vancouver, (Toronto Venture: RAY) has farmed into four African contracts held by Africa Oil Corp., Vancouver, (Toronto Venture: AOI). The agreement relates to production sharing contracts in which Africa Oil has an interest in both Somalia and Kenya. In Puntland, Somalia, Africa Oil will transfer a 15% license interest to Raytec in the Nogal and Dharoor petroleum production-sharing agreements. In Kenya, Africa Oil will transfer a 10% interest in the Block 9 production-sharing agreement, a 25% license interest in the Block 10A production-sharing contract and a 20% interest in the Block 10BB production-sharing contract, which was recently acquired by Africa Oil pursuant to its acquisition of Turkana Energy Inc. Raytec will pay a disproportionate share of costs associated with the planned work programs to be carried out in both areas in 2009 and 2010. Raytec will also deposit US$4 million within 30 days of execution of the agreement into escrow as security for its payment obligations under the agreement. Raytec president and chief executive Brian Thurston says, "The alliance with Africa Oil is a unique opportunity to partner with the Lundin Group, one of the most respected names in the energy resource industry. Our participation in the Kenya Block 10BB reinforces Raytec's commitment to create opportunities for our shareholders to participate in world-class exploration plays in East Africa."