Shares of Africa Oil Corp. (CVE:AOI) are on the move after the company announced its latest oil discovery in northern Kenya.
The Vancouver-based energy firm said on Friday that the Agete-1 exploration well in Block 13T has "discovered and sampled moveable oil with an estimated 100 metres of net oil pay in good quality sandstone reservoirs."

The discovery is the first of a chain of multiple rift basins across Africa Oil's acreage in the region, the company said in a statement.
It also paves the way for other prospects to the north, on trend with the Twiga South, Ekales, and Ngamia oil discoveries, and adds to the significant resource base already discovered, according to the Africa Oil statement.
"The highly prolific nature of this basin is once again proven by this significant discovery. We would expect to see a high rate of success on all exploration wells in this basin based on results to date," Africa Oil president and chief executive officer Keith Hill said in the release.
The company said it will have at least six rigs running across Kenya and Ethiopia and is funded enough to drill basin opening wells in its prospective zones for the next 18 months.
The rig at Agete-1 reached a depth of 1,930 metres. After logging operations are finished, Africa Oil said it will suspend activity at the well for future flow testing and the rig will move to drill at the Ewoi-1 wildcat in the east of this basin.
The company said it expects to begin drilling the Amosing-1 well and test the Etuko-1 well in Block 10BB before November ends and it will start the Ekales-1 well test in early December. Results of the Bahasi-1 well in the Block 9 are expected by the end of December.
In Ethiopia, Africa Oil expects results from the Tutule-1 well in the South Omo block and the El Kuran-3 well in Block 8 before the end of the year.
Shares jumped more than 5% on Friday ahead of noon and have risen about 46% on the year.