PetroNor E&P ASA

Delisting Announcement • Dec 22, 2015

22 December 2015

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

NSX Delisting – Shares Suspended

African Petroleum, an independent oil and gas exploration company operating ten licences in five countries offshore West Africa, advises that in accordance with the special resolution passed at the Company's General Meeting held on 21 December 2015, the Company's shares have today been suspended from quotation on the National Stock Exchange of Australia ("NSX"), prior to being removed from the CHESS sub-register on 31 December 2015 and being formally de-listed from the NSX before open of trading on 4 January 2016.

The Company maintains a primary listing in Norway on the Oslo Axess (APCL).

For further information, please contact:

Jens Pace, Chief Executive Officer Stephen West, Chief Financial Officer 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 an independent oil and gas exploration company operating ten licences in five countries offshore West Africa. The Company's assets are located in proven hydrocarbon basins in the West African Transform Margin, and the Atlantic Margin, where several discoveries have been made in recent years. With a combined net acreage position of 28,448km² through its licences in Côte d'Ivoire, Liberia, Senegal, Sierra Leone and The Gambia, the Company has matured its portfolio through the acquisition of more than 18,500km2 of 3D seismic data and successfully drilling three deep-water wells, one of which was the first hydrocarbons discovery in the offshore Liberian – Sierra Leone Basin.

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