PetroNor E&P ASA

AGM Information • Feb 13, 2015

NOTICE OF GENERAL MEETING

NOTICE OF GENERAL MEETING

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

"Company"), 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 non-

transferable 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 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 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 deep-water basin.

For more information about African Petroleum Corporation, please see

www.africanpetroleum.com.au

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

12 of the Norwegian Securities Trading Act.