PetroNor E&P ASA

Board/Management Information • Sep 30, 2015

CHANGE OF CHIEF EXECUTIVE OFFICER

CHANGE OF CHIEF EXECUTIVE OFFICER

The Board of African Petroleum Corporation Limited

("African Petroleum" or the "Company") announces

that Dr Stuart Lake, CEO and Executive Director, is

stepping down with immediate effect for health

reasons.

Mr Jens Pace, currently serving as Chief Operating

Officer, will assume the position of CEO. Mr Pace

is a geoscientist with over 30 years of industry

experience which includes exploration leadership

roles in Africa and other regions for BP. As part

of his new role as CEO, it is anticipated that Mr

Pace will be joining the Board of African Petroleum

in due course. Having joined the Company in 2012,

Mr Pace has been instrumental in progressing the

assets through technical work and leading the

ongoing negotiations with potential partners.

Commenting on this update, Charles Matthews,

Chairman of African Petroleum said:

"It is with regret that Stuart is leaving us and we

wish him a speedy and full recovery. He has been a

great leader for African Petroleum and has enabled

the Company to take great strides forwards.

Fortunately, African Petroleum has the strength and

depth within the existing management to be able to

make the required changes internally. Jens and the

rest of the experienced management team have been

working very closely with Stuart during our ongoing

partner negotiations and we remain confident in our

ability to successfully conclude transactions in

the near future."

For further information, please contact:

Jens Pace, 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

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