PetroNor E&P ASA

Report Publication Announcement • Jul 31, 2015

31 July 2015

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

Statement re NSX Quarterly Activities Report

African Petroleum, an independent oil and gas exploration company operating ten licences in five countries offshore West Africa, advises that the National Stock Exchange of Australia (the "NSX") has approved the removal of the requirement to issue NSX compliant Quarterly Activity Reports with effect from 31 July 2015. Accordingly, the Company will no longer issue NSX compliant Quarterly Activity Reports. The Company remains fully compliant with its NSX listing obligations and confirms that Oslo Axess compliant quarterly reports will continue to be lodged by the Company simultaneously on both Oslo Axess and on NSX within two months of the end of each relevant quarter, with agreement from NSX.

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For further information, please contact:

Stuart Lake, 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 Geir Gjervan Tel: +47 908 79 108

About African Petroleum Corporation

African Petroleum Corporation 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 Corporation'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 Corporation, please see www.africanpetroleum.com.au