PetroNor E&P ASA

Report Publication Announcement • Apr 18, 2017

AUDITED ANNUAL FINANCIAL REPORT - 31 DECEMBER 2016

AUDITED ANNUAL FINANCIAL REPORT - 31 DECEMBER 2016

African Petroleum Corporation Limited ("African Petroleum" or

the "Company"), an independent oil and gas exploration

company operating high impact exploration licences offshore

West Africa, today releases its Audited Annual Financial

Report for the year ended 31 December 2016.

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: +44 207 466 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, 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. The Company is working with

its partner Ophir Energy (operator) on the CI-513 licence in

Côte d'Ivoire to drill an exploration well in May 2017.

For more information about African Petroleum, please see

www.africanpetroleum.com.au