PetroNor E&P ASA

Pre-Annual General Meeting Information • Oct 6, 2015

CONSOLIDATION OF CAPITAL - RECORD DATE INFORMATION

CONSOLIDATION OF CAPITAL - RECORD DATE INFORMATION

Reference is made to the notice of general meeting announced by African

Petroleum Corporation Limited ("African Petroleum" or the "Company") on 18

September 2015. The Board of African Petroleum has proposed that the

shareholders pass a resolution to consolidate the share capital of the Company on

the basis of one share for every ten held. The general meeting of shareholders will

be held at 9:00am (WST) on 21 October 2015 at the offices of Steinepreis Paganin,

Level 4, 16 Milligan Street, Perth, Western Australia. For further information, please

refer to the notice of general meeting of shareholders.

The explanatory record date information for the proposed consolidation of capital

is as follows:

21 October 2015: General meeting of shareholders

22 October 2015: Last day trading pre-consolidation in CHESS

23 October 2015: First day trading post-consolidation in CHESS / Last day

trading pre-consolidation in VPS

26 October 2015: First day trading post-consolidation in VPS

27 October 2015: Record date both Australia and Norway

28 October 2015: CHESS register and VPS register updated, investors securities

accounts adjusted for consolidation and, as applicable, rounding up

Due to the settlement cycle in CHESS being on a T+3 basis and the settlement cycle

in the VPS being on a T+2 basis, the shares of the Company will be trading on a

pre-consolidation basis in the VPS one day longer than in CHESS.

Cross-border transactions between CHESS and the VPS will be closed in the period

from 21 October 2015 to and including 27 October 2015. Any pending cross

border transactions that do not settle in CHESS on or prior to 20 October 2015 will

be cancelled; the instructing party will be informed accordingly. All cross border

transactions initiated on 28 October 2015 or thereafter must have a trade and

settlement date 28 October 2015 or later.

For further information, please contact:

Jens Pace, Chief Executive Officer

Stephen West, Finance Director

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 a dynamic, independent oil and gas exploration company

operating ten licences in five countries offshore West Africa. The Company's assets

are located in fast-emerging hydrocarbon basins, principally the West African

Transform Margin, where several discoveries have been made in recent years,

including African Petroleum's Narina-1 discovery in February 2012, which proved a

working hydrocarbon system in the Liberian basin. With a combined net acreage

position of 30,378km2 through its licences in Côte d'Ivoire, Liberia, Senegal, Sierra

Leone and The Gambia, the Company has matured its portfolio rapidly, acquiring

more than 18,500km2 of 3D seismic data and successfully drilling three wells, one

of which was the first hydrocarbons discovery in the offshore Liberian deep-water

basin.

For more information about African Petroleum, please see

www.africanpetroleum.com.au