PetroNor E&P ASA

Pre-Annual General Meeting Information • Feb 13, 2015

13#February 2015

OAX#/#NSX#Announcement#

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

Notice!of!General!Meeting

African# Petroleum# Corporation,# an# independent# oil# and# gas# exploration# company# operating# ten# licences# in# five# countries# offshore#West# Africa,# hereby# announces# notice# of# a General#Meeting# of# shareholders#("GM")#to#take#place#at#09:00#(WST) on#16#March#2015,#at#32#Harrogate#Street,#West# Leederville#WA##6007,#Australia.

Included# in# the# business# of# the# GM# is# the# approval# of# the# issue# of# up# to# 330,000,000# shares# and# 165,000,000#share#options#in#order#to#facilitate#the#recent#Private#Placement#raising#NOK#95,106,200# (approximately# US\$12.5# million)# as# announced# on# 10# February# 2015,# and# to# complete# a# NOK# 19,021,250 (approximately# US\$2.5# million)# subsequent# repair# offering# of# additional# shares# and# options#on#the#same#terms#as#the#Private#Placement#(the#"Repair#Offering").

In#accordance#with#the#Repair#Offering,#the#Company's#shareholders#holding#shares#through#VPS#as# of# 10# February# 2015,# as# registered# in# the# VPS# on# 12# February# 2015,# who# were# not# invited# to# participate#in#the#Private#Placement#and#who#are#not#resident#in#a#jurisdiction#where#such#offering# would# be# unlawful,# or,# for# jurisdictions# other# than# Norway,# would# require# any# prospectus,# filing,# registration# or# similar# action,# will# be# granted# nonatransferable# allocation# rights to# apply# for,# and# upon#application,#be#allocated#new#shares#and#options in#the#Company.##The#Company#has#retained# Pareto#Securities#AS#to#act#as#Manager#of#the#Repair#Offering.

The# commencement# of# the# Repair# Offering# is#subject# to# approval# and# publication# of# an# offering# prospectus# in# accordance# with# Chapter# 7# of# the# Norwegian# Securities# Trading# Act.# # A# separate# announcement#regarding#the#Repair#Offering#will#be#released#by#the#Company#in#due#course.

For!further!information,!please!contact:

Stuart#Lake,#CEO Stephen#West,#Finance#Director Ian#Philliskirk,#Group#General#Counsel Tel:#+44#203#435#7700

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# fasta emerging# hydrocarbon# basins,# principally# the# West# African# Transform# Margin,# where# several# discoveries# have# been# made# in# recent# years,# including# African# Petroleum# Corporation's# Narinaa1# discovery#in#February#2012,#which#proved#a#working#hydrocarbon#system#in#the#Liberian#basin.#With# a#combined#net#acreage#position#of#28,955km² 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#deepawater#basin.

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

This# information# is# subject# to# disclosure# requirements# pursuant# to# section# 5a12# of# the# Norwegian# Securities Trading#Act.