PetroNor E&P ASA

Share Issue/Capital Change • Oct 6, 2015

6 October 2015

African!Petroleum!Corporation!Limited ("African!Petroleum"!or!the!"Company")

Consolidation!of!Capital!– Record!Date!Information

Reference!is!made!to!the!notice!of!general!meeting!announced!by!African!Petroleum!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!preTconsolidation!in!CHESS
23 October!2015:	First! day!trading! postTconsolidation! in! CHESS /! Last! day trading! preT
	consolidation!in!VPS
26 October!2015:	First!day!trading!postTconsolidation!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!preTconsolidation! basis!in the!VPS!one!day!longer!than!in!CHESS.

CrossTborder!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! fastT emerging!hydrocarbon!basins,!principally!the!West!African!Transform!Margin,!where!several! discoveries! have! been! made! in! recent! years,! including! African! Petroleum's! NarinaT1! 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! deepTwater!basin.

For!more!information!about!African!Petroleum,!please!see!www.africanpetroleum.com.au