PetroNor E&P ASA

Legal Proceedings Report • Oct 18, 2017

LICENCE BLOCKS A1 & A4 - THE GAMBIA

LICENCE BLOCKS A1 & A4 - THE GAMBIA

African Petroleum Corporation Limited ("African Petroleum"

or the "Company") advises that its wholly owned subsidiaries

African Petroleum Gambia Limited and APCL Gambia B.V have

lodged Requests for Arbitration ("RFA") documents with the

International Centre for the Settlement of Investment

Disputes ("ICSID") in order to protect its interests in the

A1 and A4 licences in The Gambia, and that these RFAs have

been registered and allocated case numbers by ICSID.

Due to legal confidentiality considerations and commercial

sensitivities associated with the arbitration process, the

Company intends to only provide material updates to

shareholders as and when appropriate.

Commenting on the update, CEO Jens Pace said:

"As we have emphasised on numerous occasions, arbitration is

certainly not our preferred route; however, we believe

arbitration is necessary to protect our interests in these

licences in which we have made significant investment over

the years. Despite the formal commencement of this process,

we reiterate that we remain wholly open to engaging in

constructive dialogue with the Gambian authorities with a

view to establishing a satisfactory solution that is in the

interest of all parties.

Our message to our shareholders at this time is that we

fully appreciate the concerns and queries they might have

around this process and we understand that they will be keen

for regular updates in terms of timings and possible

outcomes. We are; however, legally and commercially

constrained by what we can disclose and therefore request

their patience as we work through this sensitive, fluid and

complex process. It is also important to emphasise that we

would not be embarking on this process, nor would it have

been formally registered with ICSID, if we did not feel that

we had a valid claim supported by the legal counsel we have

received on the matter to date."

For further information, please contact:

Jens Pace, Chief Executive Officer

Stephen West, Chief Financial Officer

Tel: +44 20 3655 7810

Media Contacts:

Buchanan

Ben Romney/Chris Judd

Tel: +44 207 466 5000

About African Petroleum

African Petroleum is an independent oil and gas exploration

company with an equity interest in licences in four

countries offshore West Africa (Senegal, The Gambia, Côte

d'Ivoire and Sierra Leone). The Company's assets are located

in proven hydrocarbon basins in the West African Transform

Margin and the Atlantic Margin, where several discoveries

have been made in recent years.

For more information about African Petroleum, please see

www.africanpetroleum.com.au