PetroNor E&P ASA

Delisting Announcement • Dec 22, 2015

NSX DELISTING - UPDATE

NSX DELISTING - UPDATE

African Petroleum Corporation Limited ("African Petroleum" or the "Company"), an

independent oil and gas exploration company operating ten licences in five countries

offshore West Africa, advises that in accordance with the special resolution passed at

the Company's General Meeting held on 21 December 2015, the Company's shares have

today been suspended from quotation on the National Stock Exchange of Australia

("NSX"), prior to being removed from the CHESS sub-register on 31 December 2015

and being formally de-listed from the NSX before open of trading on 4 January 2016.

The Company maintains a primary listing in Norway on the Oslo Axess (APCL).

For further information, please contact:

Jens Pace, Chief Executive Officer

Stephen West, Chief Financial Officer

Tel: +44 20 3761 6900

Angeline Hicks, Company Secretary

Tel: + 61 401 489 883

Media Contacts:

For UK and International media - Buchanan

Ben Romney/Helen Chan

Tel: +44 207 466 5000

For Norwegian media - First House

Geir Arne Drangeid

Tel: +47 913 10 458

About African Petroleum

African Petroleum is an independent oil and gas exploration company operating ten

licences in five countries offshore West Africa. 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. With a combined

net acreage position of 28,448km2 through its licences in Côte d'Ivoire, Liberia,

Senegal, Sierra Leone and The Gambia, the Company has matured its portfolio

through the acquisition of more than 18,500km2 of 3D seismic data and successfully

drilling three deep-water wells, one of which was the first hydrocarbons discovery in

the offshore Liberian - Sierra Leone Basin.

For more information about African Petroleum, please see

www.africanpetroleum.com.au