PetroNor E&P ASA

Director's Dealing • Jun 3, 2014

MANDATORY NOTIFICATION OF TRADE

MANDATORY NOTIFICATION OF TRADE

3 June 2014 - Mr Charles Matthews, Chairman and

Primary Insider of African Petroleum Corporation

Limited ("African Petroleum Corporation" or the

"Company"), has on 2 June 2014 acquired 100,000 shares

in the Company at NOK 1.07 per share. The trade was

carried out over the trading platform of Oslo Axess.

Following this transaction, Charles Matthews owns

100,000 shares in African Petroleum Corporation.

This information is subject of 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

Claire Tolcon

Company Secretary

Tel: + 61 8 9388 0744

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

About African Petroleum Corporation Limited

African Petroleum Corporation is a dynamic,

independent oil and gas exploration company operating

eight licences in four 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 28,295km2 through its licences in Côte d'Ivoire,

Liberia, Senegal and Sierra Leone, the Company has

matured its portfolio rapidly, acquiring more than

15,000km2 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