PetroNor E&P ASA

Director's Dealing • Sep 3, 2014

MANDATORY NOTIFICATION OF TRADE

MANDATORY NOTIFICATION OF TRADE

3 September 2014 - Dr Stuart Lake, Chief Executive

Officer, Executive Director and Primary Insider of

African Petroleum Corporation Limited ("African

Petroleum Corporation" of the "Company"), has on 2

September 2014 acquired 150,000 shares in the Company

at an average price of NOK 0.8254 per share. The trade

was carried out over the trading platform of Oslo Axess.

Following this transaction, Dr Stuart Lake owns

150,000 shares in African Petroleum Corporation.

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 20 3435 7700

Angeline Hicks, Company Secretary

Tel: + 61 401 489 883

Media Contacts:

For UK and International media:

Mark Antelme/Charlie Stewart, Bell Pottinger

Tel: +44 207 861 3800

For Norwegian media:

Geir Arne Drangeid, First House

Tel: +47 913 10 458

Geir Gjervan, First House

Tel: +47 908 79 108