PetroNor E&P ASA

Regulatory Filings • Mar 27, 2015

Press release Repair Offering Short Extension

Press release Repair Offering Short Extension

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS

WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, CANADA OR

JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE

WOULD BE UNLAWFUL

27 March 2015

AFRICAN PETROLEUM CORPORATION LIMITED - EXTENTION OF APPLICATION

PERIOD

Reference is made to the announcement made by African Petroleum Corporation

Limited ("African Petroleum" or the "Company") on 16 March 2015, regarding the

approval of the prospectus dated 16 March 2015 (the "Prospectus") and the

commencement of the Subsequent Repair Offering.

The application period under the Subsequent Repair Offering was set to expire

today, 27 March 2015, at 12:00 CET. In accordance with the procedure in the

Prospectus, the Company has resolved to extend the application until 1 PM CET

Wednesday 1 April 2015, in anticipation of new investors applications for offer

shares to be fulfilled. As a consequence of the extension of the application

period, the new payment due date will be 9 April 2015. It is expected that the new

shares will be delivered in the VPS to applicants in the Subsequent Repair Offering

on or about 16 April 2015, provided that the applicant has paid for the offer

shares allocated to the applicant when due.

Pareto Securities AS is acting as Manager in connection with the Subsequent

Repair Offering.

This information is subject to the disclosure requirements pursuant to section 5-

12 of the Norwegian

Securities Trading Act.

*****

For further information, please contact:

Stuart Lake, Chief Executive Officer

Stephen West, Finance Director

Tel: +44 203 761 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 30,967km2 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

Disclaimer

The information contained herein shall not constitute an offer to sell or the

solicitation of an offer to buy, nor shall there be any sale of the securities referred

to herein in any jurisdiction in which such offer, solicitation or sale would be

unlawful prior to registration, exemption from registration or qualification under

the securities laws of any such jurisdiction. In particular, the securities referenced

herein have not been, and will not be, registered under the U.S. Securities Act of

1933, as amended (the "Securities Act"), and may not be offered or sold in the

United States absent registration or pursuant an exemption from the registration

requirements of the Securities Act and applicable U.S. state securities laws. The

Company does not intend to register any part of the offering in the United States

or to conduct a public offering of securities in the United States.

This press release may not be released to any U.S. wire service or distributed or

sent into the United States, Canada, Japan or any other jurisdiction in which such

distribution would be unlawful or would require registration or other measures.

This document is a press release and not a prospectus for the purposes of

Directive 2003/71/EC as amended (together with any applicable implementing

measures in any Member State, the "Prospectus Directive"). Any offering of

securities will be made solely on the basis of the Prospectus dated 16 March 2015.

In any EEA Member State other than Norway that has implemented the Prospectus

Directive, this communication is only addressed to and is only directed at qualified

investors in that Member State within the meaning of the Prospectus Directive, i.e.,

only to investors who can receive the offer without an approved prospectus in

such EEA Member State.

This press release may not be distributed to any person in the United Kingdom

except persons (i) who have professional experience in matters relating to

investments falling within Article 19(5) (investment professionals) of the Financial

Services and Markets Act 2000 (Financial Promotions) Order 2005 ("FPO"), (ii) who

fall within the categories of persons referred to in Article 49(2)(a) to (d) (high net

worth companies, unincorporated associations, etc.) of the FPO or (iii) to whom it

may otherwise be lawfully communicated.

This press release is not an offer to sell, or the solicitation of an offer to buy, any

of the Company's securities to or from investors in Australia. This press release is

not a prospectus, product disclosure statement or other offer document under

Australian law. Any offers relating to Company securities in Australia will be made

only to persons who are professional investors or sophisticated investors (as those

terms are used in s708(11) and s708(8) respectively of the Australian Corporations

Act 2001 ("Corporations Act")) or other persons specified in s708 of the

Corporations Act who do not require or need to be given a prospectus or other

disclosure document under Chapter 6D of the Corporations Act to lawfully receive

an offer to subscribe for or acquire securities in the Company.

This press release contains forward-looking statements. Forward-looking

statements are statements that are not historical facts and may be identified by

words such as "believe," "expect," "anticipate," "intends," "estimate," "will," "may,"

"continue," "should" and similar expressions. The forward-looking statements in

this release are based upon various assumptions, many of which are based, in

turn, upon further assumptions. Although African Petroleum Corporation believes

that these assumptions were reasonable when made, these assumptions are

inherently subject to significant known and unknown risks, uncertainties,

contingencies and other important factors which are difficult or impossible to

predict and are beyond its control. Such risks, uncertainties, contingencies and

other important factors could cause actual events to differ materially from the

expectations expressed or implied in this release by such forward-looking

statements.

The information, opinions and forward-looking statements contained in this

release speak only as at its date, and are subject to change without notice. African

Petroleum Corporation disclaims any obligation to update and revise any forward-

looking statements, whether as a result of new information, future events or

otherwise.