PetroNor E&P ASA

Board/Management Information • Dec 1, 2015

Initial or Final Director's Interests Notice

File Reference:

I:\Operations\Projects\NETS Project\NSX install package USB key\Issuer Documents\NSX Initial-Final Directors Interests.doc

Table of Contents

INTRODUCTION 3
MORE INFORMATION AND SUBMISSION OF FORM:3
INITIAL OR FINAL DIRECTOR'S INTEREST NOTICE 4
PART 1 – DIRECTOR'S RELEVANT INTERESTS IN SECURITIES OF WHICH THE DIRECTOR IS THE REGISTERED HOLDER4
PART 2 – DIRECTOR'S RELEVANT INTERESTS IN SECURITIES OF WHICH THE DIRECTOR IS NOT THE REGISTERED HOLDER5
PART 3 – DIRECTOR'S INTERESTS IN CONTRACTS5

Introduction

To ensure the efficient processing of this form by NSX, please:

• 1. Adhere to the suggested number of the annexures required by this form.
• 1. Complete all statements and questions in this form. (NSX can provide an electronic version of this form on request).

More Information and Submission of Form:

Further information can be obtained from and all applications should be sent to:

General Manager National Stock Exchange of Australia Limited PO BOX 283 Newcastle NSW 2300

Phone: +61 2 4929 6377 Fax: + 61 2 4929 1556 http://www.nsxa.com.au

Initial or Final Director's Interest Notice

Information or documents not available now must be given to NSX as soon as available. Information and documents given to NSX become NSX's property and may be made public.

Name of entity : African Petroleum Corporation Limited

ABN: 87 125 419 730

We (the entity) give NSX the following information under section 205G of the Corporations Act.

Name of director	Mr Gibril Bangura
Date of last notice	28 October 2015
Date that director become a director (if initial notice)	NA
Date that director ceased to be director (if final notice)	30 November 2015

Part 1 – Director's relevant interests in securities of which the director is the registered holder

Number & class of securities Unlisted share options. 50,000 options exercisable at NOK 4.00 per share on or before 28 April 2020

Part 2 – Director's relevant interests in securities of which the director is not the registered holder

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest	Number & class of securities

Part 3 – Director's interests in contracts

Detail of contract	Not Applicable
Nature of interest
Name of registered holder
(if issued securities)
No. and class of securities to
which interest relates

Initial or Final Director's Interests Notice

File Reference:

I:\Operations\Projects\NETS Project\NSX install package USB key\Issuer Documents\NSX Initial-Final Directors Interests.doc

Table of Contents

INTRODUCTION 3
MORE INFORMATION AND SUBMISSION OF FORM:3
INITIAL OR FINAL DIRECTOR'S INTEREST NOTICE 4
PART 1 – DIRECTOR'S RELEVANT INTERESTS IN SECURITIES OF WHICH THE DIRECTOR IS THE REGISTERED HOLDER4
PART 2 – DIRECTOR'S RELEVANT INTERESTS IN SECURITIES OF WHICH THE DIRECTOR IS NOT THE REGISTERED HOLDER5
PART 3 – DIRECTOR'S INTERESTS IN CONTRACTS5

Introduction

To ensure the efficient processing of this form by NSX, please:

• 1. Adhere to the suggested number of the annexures required by this form.
• 1. Complete all statements and questions in this form. (NSX can provide an electronic version of this form on request).

More Information and Submission of Form:

Further information can be obtained from and all applications should be sent to:

General Manager National Stock Exchange of Australia Limited PO BOX 283 Newcastle NSW 2300

Phone: +61 2 4929 6377 Fax: + 61 2 4929 1556 http://www.nsxa.com.au

Initial or Final Director's Interest Notice

Information or documents not available now must be given to NSX as soon as available. Information and documents given to NSX become NSX's property and may be made public.

Name of entity : African Petroleum Corporation Limited

ABN: 87 125 419 730

We (the entity) give NSX the following information under section 205G of the Corporations Act.

Name of director	Mr Jeffrey Couch
Date of last notice	28 October 2015
Date that director become a director (if initial notice)	N/A
Date that director ceased to be director (if final notice)	30 November 2015

Part 1 – Director's relevant interests in securities of which the director is the registered holder

Number & class of securities

Unlisted share options.

50,000 options exercisable at NOK 4.00 per share on or before 28 April 2020

Fully Paid Ordinary Shares

14,790 shares

Part 2 – Director's relevant interests in securities of which the director is not the registered holder

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest	Number & class of securities

Part 3 – Director's interests in contracts

Detail of contract	Not Applicable
Nature of interest
Name of registered holder
(if issued securities)
No. and class of securities to
which interest relates