PetroNor E&P ASA

SUBSEQUENT REPAIR OFFERING CANCELLED

Reference is made to the announcements made by African

Petroleum Corporation Limited ("African Petroleum" or

the "Company") on 11 and 15 May 2017 regarding, amongst other

things, the commencement of the Subsequent Repair Offering.

The application period in the Subsequent Repair Offering

commenced 15 May 2017.

The Company has decided not to proceed with the Subsequent

Repair Offering due to the market conditions. The offer price

in the Subsequent Repair Offering was NOK 7.75 per share. In

the period from 15 May 2017 until today, the shares in the

Company have been traded at prices below the offer price.

Shareholders wishing to increase their relative holdings are

therefore advised to purchase shares in the market. All

applications for shares received have been cancelled.

This information is subject to the disclosure requirements

pursuant to section 5-12 of the Norwegian Securities Trading

Act.

*****

For further information, please contact:

Jens Pace, Chief Executive Officer

Stephen West, Chief Financial Officer

Tel: +44 20 3655 7810

Angeline Hicks, Company Secretary

Tel: + 61 401 489 883

Media Contacts:

Buchanan

Ben Romney/Chris Judd

Tel: +44 20 7466 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, Cote

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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