PetroNor E&P ASA

CORPORATE UPDATE - THE GAMBIA

African Petroleum Corporation Limited ("African Petroleum"

or the "Company") provides the following update regarding

the A1 and A4 licences in The Gambia.

Further to the announcement issued on 21 August 2017,

management confirms that the Company has not received any

feedback, formal or otherwise, from the Government of The

Gambia despite its best efforts to engage in dialogue with

the relevant authorities. As a result, the Company is

preparing to formally commence arbitration. African

Petroleum will provide further updates to shareholders as

this process proceeds.

Commenting on the update, CEO Jens Pace said:

"It is a matter of regret that it has come to this; however,

we are confident in our legal position and have made great

efforts to proactively engage in sensible dialogue with the

relevant authorities. Previous assurances that we would

receive feedback during the month of August do not seem to

have been followed up. We now believe that in order to

protect our historical investment, we have no choice but to

take this case to arbitration. We remain open to

progressive dialogue and sensible resolutions with the

Gambian authorities but must proactively seek to protect our

rights through this process."

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 eight 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

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