PetroNor E&P ASA

Share Issue/Capital Change • Oct 23, 2015

CONSOLIDATION OF CAPITAL - EX DATE INFORMATION

CONSOLIDATION OF CAPITAL - EX DATE INFORMATION

Further to the stock exchange announcement on 21

October 2015, African Petroleum Corporation Limited

("African Petroleum" or the "Company") advises that

its shares are trading on an ex-consolidation basis

from 26 October 2015. The last day of trading pre-

consolidation is today.

The Company's capital is being consolidated on the

following basis:

a) every ten (10) shares be consolidated into one (1)

share; and

b) every ten (10) share options be consolidated into

one (1) share option and the exercise price of each

share option be amended in inverse proportion to this

ratio.

The Company's shares have no par value. Security

holders will be sent a new holding statement

indicating the new number of securities they hold on a

post-consolidation basis on or about 4 November 2015.

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

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

30,378km2 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

This information is subject to disclosure requirements

pursuant to section 5-12 of the Norwegian Securities

Trading Act.