PetroNor E&P ASA

2014 ANNUAL REPORT AND ACCOUNTS

African Petroleum Corporation Limited, an

independent oil and gas exploration company

operating ten licences in five countries offshore

West Africa, is pleased to release its annual

report and accounts for the year ended 31 December

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

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

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