PetroNor E&P ASA

Regulatory Filings • Aug 14, 2017

CORPORATE UPDATE - THE GAMBIA

CORPORATE UPDATE - THE GAMBIA

Further to the announcement on 20 July 2017 regarding African

Petroleum Corporation Limited's ("African Petroleum" or

the "Company") A1 and A4 licences in The Gambia, the Company

confirms that it continues to await feedback from the government

of The Gambia on its proposal to enter into the next phase of the

licences and transfer the outstanding well commitment into the new

phase.

When the Company delegation, including the CEO and CFO, met with

President Barrow in Banjul on 13 July 2017 His Excellency advised

that the matter was due to be discussed in a government meeting

scheduled for late July 2017. It is management's understanding

that this meeting did not occur; however, the licences are

reported to have been discussed at a government cabinet meeting

held on 10 August 2017. At this stage, the Company has no

knowledge of the outcome of these recent government licence

discussions and is awaiting formal feedback.

The Company expects to receive formal feedback and clarity on the

A1 and A4 licence situation from the government within the next

few weeks.

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

www.africanpetroleum.com.au